Will we ever invest again?
If anything, what the global crisis has shown is that what we once thought as sure and safe bets are far from it.
October 13, 2008 1:02 by Louis
When will this financial apocalypse end? The Governor of the Central Bank of the UAE, Sultan Nasser Al Suwaidi, insists that the country isn’t at risk, but does that mean our savings are safe? If we find out our meager nest eggs have been wiped out by the imprudent mistakes of ‘experts’, someone’s going to get hurt.
If anything, what the global crisis has shown is that what we once thought as sure and safe bets are far from it. Only weeks before Lehman Brothers self-combusted, a financial analyst suggested we invest in investment banks with history. If we had, it would’ve ended in tears.
You’d think the solution is to be more market savvy, and to rely on educated rather than slapdash guesses. But I doubt that Russia’s businessmen, who lost $230 billion, were making offhand decisions when they invested their fortunes.
So what’s the lesson here? With the amount of money lost over the past ten days, it’s unlikely we’ll invest anything anywhere. But is this a case of getting back on the horse, even though your friend, who was a better rider and far prettier, got thrown off, and is now a paraplegic?