Authored by Bill Blain via MorningPorridge.com,
“You go back, Jack, do it again, wheels turning round and round…”
I’d like to introduce you to my latest theory on markets: the D-Jay Wave, a 35-year recurring cycle of irrational market exuberance. I have carefully and diligently researched this over a couple of pints... It’s therefore better underpinned than most SPACs or Disruptive Tech funds. (Glossy pitchdeck not available.)
Good luck to my all friends back home in my village of Hamble-le-rice this morning.
They are being hit by Hurricane Storm Eunice, which is whipping across the South Coast of Blighty. The weathermen are predicting a storm surge and record high tide – which is bad news as my race dinghy is sitting right by the beach in the boat park.. (If anyone spots BatFoux drifting out to sea… I’ll buy the pints if you return it.) She-who-is-Mrs-Blain and our little dog, Dee-Jay (full name: Dinnerjacket Wrigglebottom because he’s black with a white chest, and his bottom wriggles a lot), will have a grandstand view if it’s pushed up the river.
It will apparently be the worst storm, a “spike jet” bomb, since the great 1987 Hurricane the BBC famously said wasn’t going to happen.
Ah… that brings back memories….
That moment of national shock (and very angry letters to the BBC) was immediately followed by the Black Monday Stock Market crash on October 19, 1987. I don’t remember investors jumping off ledges, but I first heard the term ‘Dead Cat Bounce”, and I remember the storm well.. the parks and roads were closed for fallen trees, the trains (unsurprisingly) weren’t running. It was all a bit unreal… adding to the...