No Panic in Vienna
A True Story
It was a beautiful day in July 1996 in Vienna. In the last two weeks the S&P was down about 10% and today it went down to about 606. That's when the the phone rang. Franzie was calling.
"Hello Ronnie boy, I need you to look at somesing"
"What can I do for you, Franzie?" Responded Ron
Today ze head trader is out and left me to watch over sings and ze market
is down a bit." Franzie paused and went on "Is zere a reason to be concerned?"
"Let me draw some lines" Responded Ron, " You know those Babson lines we teach about at the seminars you help me at?, Well it is right at one so there is a good chance of a U turn here."
"Sank you very much" Responded Franzie.
Franzie went on to become a Managing Director for a European Investment Bank.
If asked about this he would probably say, "It pays to be resourseful"
A True Story
It was a beautiful day in July 1996 in Vienna. In the last two weeks the S&P was down about 10% and today it went down to about 606. That's when the the phone rang. Franzie was calling.
"Hello Ronnie boy, I need you to look at somesing"
"What can I do for you, Franzie?" Responded Ron
Today ze head trader is out and left me to watch over sings and ze market
is down a bit." Franzie paused and went on "Is zere a reason to be concerned?"
"Let me draw some lines" Responded Ron, " You know those Babson lines we teach about at the seminars you help me at?, Well it is right at one so there is a good chance of a U turn here."
"Sank you very much" Responded Franzie.
Franzie went on to become a Managing Director for a European Investment Bank.
If asked about this he would probably say, "It pays to be resourseful"