“Shut Up and Let Me Trade: The Week That Rocked Stock Markets” by Peggy Collins, Bloomberg.
All week, Todd Morgan, chairman of Bel Air Investment Advisors, has been getting up around 3:30 a.m. L.A. time. Now he’s up again, going through emails and research reports, trying to get a read on the markets. He takes a 20-minute break to meditate and, at 6:45, heads to his office in Century City.
The phones are already ringing, as they have been all week. About 20 percent of Bel Air’s clients are in the entertainment industry; La La Land tends to get particularly antsy when Wall Street freaks out.
“Are we going to be OK?” clients keep asking. Morgan has been fielding calls from 6 a.m. to 8 p.m. He looks out his window, into the foggy morning: not many people seem to be golfing this Friday at the Los Angeles Country Club.
Yes, you’re going to be fine, Morgan keeps telling everyone. This looks like a healthy correction, nothing more.Still, he wishes the stock market would bounce back a bit more, “to give people a little comfort over the weekend.”
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