But then again,
maybe not.
The word “panic” is great to use in
headlines. It is emotive and striking,
a highly efficient way to provoke
interest in a reader with only five
letters. Financial markets provide
great opportunities for journalists
to get the P word out. So after the
sharp fall in Chinese markets in
late August, triggering a 10% fall in
world markets the following week,
the headlines were flowing.
Of course, as soon as the idea
of panic gains traction, there are
plenty of people who rise up to
say it is exactly what we should
not be doing. Usually they have a
vested interest – financial advisers
and asset managers who depend
on their clients leaving their assets
exactly where they are and under
their managem [