Are You Grieving For Last Years Market?
Posted by Mark on 1st Aug 2008
There is a defined process of grieving that was first identified by the Swiss doctor Elizabeth Kubler-Ross, who worked with the terminally ill (John Kay FT 14/11/07).
There are four main stages:
-Shock and Denial; "Bloody hell Dawnay Day have just gone bust, thankfully we're in much better shape so nothing to worry about here."
-Anger; "I wouldn't be in this mess if those b*astard bankers hadn't lent me so much money."
-Bargain; "Hey, Mr Banker, mate, let's just ignore the LTV covenants, you'll get your money back when the market improves."
-Depression; "We're doomed, I never should have become a suveyor in any case, I should have done somthing meaningful with my life, like be a social worker or teacher."
-Acceptance; "I always wanted to be a social worker and my wife really does like shopping at Aldi."
So the question is, where are we on Lizzies scale? Our experience would suggest that it very much depends on who you are speaking to, what day it is and how much they have been drinking.
How long it lasts for is anybody's guess, Queen Victoria mourned her beloved Albert for over a decade.http://www.ft.com/cms/s/0/852dcb7c-9253-11dc-8981-0000779fd2ac.html