If you watched with horror as banks crumbled (or crumpled?) this week, this poem’s for you! From what I have read about SVG Bank, the Original Gangster of this present bank run, it was heavily concentrated in business from one sector: Tech. And I thought morality plays were no longer in fashion. Let us hope, that we have already seen the Worst. And yet prepare, as if the Worst is yet to come.
The age of the Specialist is at an end.
Expertise leads to nothing but trouble.
Concentrating your resources means, you can’t fend
Off a panic, if panic redoubles.
Perhaps it’s just happenstance, leading your steps
To a place where the Everyman reigns,
Where the Jack of All Trades and the Generalist
Can evade all the Specialist’s pains.
All your eggs in one basket? I’d recommend two,
Maybe three, maybe four at the least.
We now know, that one industry barely said “Boo!”
And a mouse slayed the King of the Beasts.
I suppose, for a runner, a bank run is fun,
As he chases his cash down the drain,
But if friends tell their friends, well, the fun never ends,
Breaking links, in an orderly chain.
You can open your eyes! Yes, the panic is over.
Collect up your stock market ticker.
Though the tape may dismay, you’ll forget it, one day.
Maybe then, your demise will be quicker.
Copyright 2023 Andrea LeDew
For more stock market Sturm und Drang, read Chicken Little , Panic and Euphoria , Shares, and Economics 101. For an account of another crazy week, this time, in the homeschooling world, read Weeks Like That.
Bowdlerized
As a newly retired person, I try very hard not to panic over financial volatility.
Probably wise, Liz. And congratulations!
Lucky for me, I have a financial planner.