My friends are probably going to sigh yet again because for some reason, I am writing about The Devil Wears Prada yet again. Well, I honestly think that there is some "wisdom" (OK, wisdom is too big a word) in the movie that could potentially be applied to the changing sentiments of Wall Street.
These are lines from the movie's 'devil' played by Meryl Streep:
You can see beyond what people want, and what they need and you can choose for yourself.
Guess what I think: I think that those who are going to survive the downtrends in the global markets are those who will be able to see what people want, what they need, what their short-term and long-term fears are, what their aspirations are, what drives them and what disappoints them.
And choose.
The market is supposedly rational. The movements of Wall Street and of other exchanges around the world are supposedly rational. We are supposedly trading in a rational world.
But we're not trading in a rational world.
A rational world would be one that allowed everyone - every stakeholder - access to perfect and full information.
One could argue that the internet has allowed access to more information - and that is true. As I type this, I can the ticker of the NYSE go up and down on my screen. I also see a stream of news coming in.
Surely, there is more information available - timely information.
But perfect and 'full' information? I don't think they are.
Now more than ever, corporate people - being people - are more wary about what they say and do because it could spread like wildfire thanks to the internet.
So who will profit from this mess?
Those who can see into the fears, dreams, aspirations, motivations, drivers, dampeners, souls, and hearts of investors - and choose and play.
