| October 3, 2008 at 09:37:18 Promoted to column top on 10/3/08: by sherry clark Page 1 of 5 page(s) |    |
Like America, some of the greatest British journalists and analysts also happen to be comedians. Watching The Last Laugh with John Bird (in the guise of investment banker, George Parr) and John Fortune (together known as the Long Johns), the same can certainly be said in Britain as well. This is a transcript of this insightful comedian team who brilliantly and accurately describe the mindset of the investment banking community in this satirical interview. It was especially insightful considering this was recorded last year.
John Fortune: George Parr, you are an investment banker.
John Bird: I am yes.
Fortune: And as such, you have your fingers right on the pulse of the financial markets.
Bird: Yes, very much so yes.
And during the summer, there's been a great deal of turbulence, some vol--
Vultures.
--atility in the market.
Yes. A tremendous amount
Yes. What has caused that?
Well, you have to remember two things about the market, one is they are made up of very sharp and sophisticated people who are some of the greatest brains in the world. And the second thing you have to remember is that financial markets--to use the common phrase, are driven by sentiment.
What does that mean?
What does that mean. Well the thing is, let's say things are going along as normal in the market, and then suddenly, out of the blue, one of these very sharp and sophisticated people say, "My GOD! Something AWFUL is going to happen! [Grasps face in despair] We've lost EVERYTHING! My God, what are we going to do, WHAT ARE WE GOING TO DO?
Shall I jump out of the window?
Shall I jump out of the window. EXACTLY! Let's all jump out of the window! SELL!
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