June 2021
Intermediate to advanced
288 pages
7h 29m
English
Content preview from The Consulting Bible, 2nd Edition
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Chapter 16Consulting in Crisis Times
The Nature of Volatility
“Volatility” is rapid and unpredictable change. However, it really isn't that cut and dried.
Even chaos has boundaries.1 Disorder and confusion occur within parameters. Whether natural disasters, technological failures, horrible business decisions, or unanticipated plague, there are rules and parameters which prevail.
Gravity prevails, people don't levitate. Money may be stolen or lost, but it doesn't become radioactive. Tornados and hurricanes have paths, they don't aim at particular apartments or types of businesses.
The pandemic of 2020 prompted me to write this chapter for the second edition of the book. When the pandemic hit seriously, around early March, and was finally recognized for its severity, the stock market crumbled. People were panicked, and many turned their assets into cash after taking major hits. And those people lost the profits from the huge rally that followed for months. Even after another correction, the market remained at all‐time highs.
The investment experts pointed out that because of the previously long and successful growth of market value, they knew that volatility would make a major impact at some point. They just didn't know when, or that it would be caused basically by a microbe, but they were prepared for it. The “secret” was not to panic and have enough ...
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