> And for no reason other than "everyone else is doing it“
This is the bizarre part of this all. Unlike the dotCom bust in the early 2000s, there was no earnings disaster that precipitated this. These companies are all profitable and some wildly profitable. How much of this so-called upcoming slowdown real and how much of it is simply in the heads of frightened, uncreative CEOs who are all looking to each other for clues about what to do? Because right now there is no recession.
This is the bizarre part of this all. Unlike the dotCom bust in the early 2000s, there was no earnings disaster that precipitated this. These companies are all profitable and some wildly profitable. How much of this so-called upcoming slowdown real and how much of it is simply in the heads of frightened, uncreative CEOs who are all looking to each other for clues about what to do? Because right now there is no recession.