The original iconic film Wall Street (1987). It was made right in the middle of a booming economy, low interest rates, big money deals and the coined phrase “Greed is Good.” Gekko went on to make the point that greed “captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind.” He then compared the United States to a “malfunctioning corporation” that greed could still save. Woah! I’m not sure that is what I want on my tagline, but it certainly fired the nation up at the top of a cycle. If you were around in the financial world at this point, it was hard for things to get any better. Then it all went pop.
I’m not suggesting that that time is here or that greed is good, but we are at an interesting point in the cycle and perhaps it’s time to reflect. We’ve had a lot of talk recently about whether we are in a bubble or not. We may well be starting one.