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Strategies & Market Trends : Sharck Soup

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To: kendall harmon who wrote (31658)7/21/2001 8:58:46 PM
From: puborectalis   of 37746
 
From Jonathan Steinberg(demise of Individual Investor)....We came up against a Perfect Storm, a confluence of economic conditions that none of us had ever before encountered. Although we were able to navigate through the recession of 1990-1991 (when we were much smaller, with much lower operating costs), what has transpired since March of 2000 has been nothing short of catastrophic for our industry: a brutal bear market that has eviscerated trillions of dollars in wealth and sent investors into hiding; a severe contraction in advertising budgets generally, and in finance magazines in particular; a drying up of venture capital funding, that just a few years ago was throwing hundred of millions of dollars at companies on the promise of future profitability.

And so the magazine is gone.

As one who has endured even greater losses in the past few years, I know as well as any that there is no alternative but to move on. Unlike the Internet, in life one cannot scroll back. There is only one direction … and that's forward.
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