Here’s an old Michael Lewis article that’s been making the rounds lately. Titled “How a Tokyo Earthquake Could Devastate Wall Street and the World Economy”, he wrote it back in 1989.
Like most of Lewis’ work, I found it interesting, and thought you might, too. To be clear, I do not believe it will be prophetic…there’s already too much fearmongering in the media going on about this tragedy. And at the risk of pointing out the obvious, last week’s quake did not hit Tokyo. So take his conclusions with a grain of salt. Just some things to think about in a way that only Lewis can convey.
Also, I have been actively buying in Tarpon this week. May be more to come. So, back to the cave.
In the meantime, a reminder that fear is the friend of the long-term investor…