Signs of A Market Top

Signs Of A Market Top: Creative Types Do Finance

Now that we’ve got our own GoogTube frustrations out there, we can take a deep breath and remember that the last time we started to feel this way we were about two years from the bursting of the tech bubble. We were living in Philadelphia and conspiring with business students on ways to make money from selling “tiny little classified ads” more efficiently. We got out of school and moved to New York just in time to watch it all come crashing down around us. Suddenly, it didn’t seem as costly not to be sorting mail at the Next Big Thing.
Are we back there again? The other night we had a young woman over at our apartment to watch some movies. She’s a film-maker. The type who makes avant-garde shorts that get shown in the big festivals but have never made much money. More importantly, she brought over two nice bottles of wine.
Somewhere into the second bottle she turns to us and mentions she’s taking a class at the New School.
“It’s my first class that is not on film, post-modern fiction or women’s history,” she says. “I’m taking a finance class. I’m really learning a lot. It’s like economics. I keep thinking, ‘Wow. When did this stuff get invented?’”
Apparently this is a very funny story to her creative friends because they are all doing the same thing. Taking finance classes. Looking to get involved in the markets.
We quickly took out our notebook and wrote down the date. February 6th, 2007. That’s officially the day we witnessed the modern equivalent of the shoe-shine boy asking Joe Kennedy for stock tips. When avant-garde filmmakers want to be bankers, it might be time to ring the bell people.