In a Crisis, You Must Overreact
I’m now “that guy” who may be having an outsized reaction. Fine then.
I’ve been through several crises.
1987: Dow crashes 22.6%. It was the first week of my first job after graduating from UCLA. A bunch of the analysts went down from the 44th floor to the trading floor on the 17th, at 1251 Avenue of the Americas—Morgan Stanley—to witness what our boss said was a “historic event.” A low-carbonated crisis, really, as I didn’t have enough to worry…