Managing the Meltdown

I was recently forwarded an email from a banker 'congratulating' an equity broker at a different firm on his new position. The email read: "Sorry John that you just got a job now that we are entering a bear market and 50% of us will be laid off, house prices will tumble and global warming will make agriculture viable on the poles."

The banker's pessimism is not so surprising. The summer of 2007 has been marked by bad weather in northern Europe, a downturn in global financial markets, funds