The cover of The Economist for the first week of November 1997 is one of my all time favorites. Here it is, and a quick note to the good folks at the magazine: I am not making a dime from this, but thanks:
If you are reading this on your phone, you might have a hard time reading the captions. On the far left, a broker is telling a client over the phone “I’ve got a good stock here that could really excel.”
The man standing next to him overhears the conversation, and wonders: “Really excel?”
This quickly turns into ‘sell,’ which leads to panicked selling.
In the bottom panel, you see one of the mob putting on his hat to leave, saying: “This is madness! I can’t take anymore. Good bye!” Of course, this turns goes from ‘bye’ to ‘buy’ in a hurry, and a buying frenzy erupts. In the far bottom right, the broker is again seen talking on the phone: “I’ve got a stock here.” …Read On…
The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.