Don't believe the market hype

Firms may be finding it hard to make a profit in the financial services industry but this is doing nothing to curb their optimism

I am still astounded at the optimism of various chief executives of major networks and national brokerages. When you have not made a profit since Adam was a lad, you would have thought you would gain more credence in the market place if you actually came out and said: "We can't make a profit in this industry any more." Instead, many are suggesting to various moneybags life companies that "next year will be our year". Everyone knows that most industries are cyclical and the investment industry is no exception, it is just that in the past it has not been so in the case of the life assuranc...