Charles Prince, the then Chairman of Citibank made an infamous statement during the heat of 2007 frenzy, “When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing.”
He was only stating the old proverb, “Make hay while the sun shines.” in different words.
The problem in all such situations is it is difficult to figure out in advance when the music would stop. And by the time it does, there is a mad scramble at the exit door.
#RidingTheRollerCoaster – 128