Random Walk

In a recent Esquire survey, 25.6 per cent of young women reported that the investment-banker-in-Armani-suit image is most appealing to them, easily outdistancing six other “images.” I rang Giorgio to congratulate him on his great numbers. But when the Fed boosted the discount rate by a quarter-point, the market took a one-day 96-point dive—and that kind of number can ruin your weekend.

The market resumed its upward trend on Monday, and word on the Street is that Greenspan’s tightening was a one-time event. I’m not buying.

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In a recent Esquire survey, 25.6 per cent of young women reported that the investment-banker-in-Armani-suit image is most appealing to them, easily outdistancing six other “images.” I rang Giorgio to congratulate him on his great numbers. But when the Fed boosted the discount rate by a quarter-point, the market took a one-day 96-point dive—and that kind of number can ruin your weekend.

The market resumed its upward trend on Monday, and word on the Street is that Greenspan’s tightening was a one-time event. I’m not buying.