Monday, September 21, 2009

What I am sure of the financial market

The financial market is a confusing place. One of the few things we can be sure of is that its players are some of the most pain adverse people anywhere. Until the accumulated results of their actions take them to a place of unavoidable pain, they will never invite the good kind of pain for themselves. No painful restructuring, pay cuts etc., unless it is for the lower levels.

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