Get real

Each day on the Bloomberg channel they interview someone supposedly knowledgeable from London about the worldwide financial situation between 6.30am and 7.00am, Brazil time.
The majority of the shell-shocked fund managers repeat the same sort of thing:"never seen anything like it", "the worst in our generation" etc. etc.
As most of them appear around 17 years old and recently out of teddy bear pyjamas , one can understand perhaps their bemusement as a generation who only new "boom" get to grips with "bust".
Obviously the interviewer always asks them when the current situation is going to end and also fairly obviously they explain that they don´t have a clue!
Until last week when someone shed some real light.
"When the companys get real" he said. Today the majority of companys are still publicly expecting growth of "just" 1% where they should be announcing a slide of around 10%. Therefore we will be enduring turbulent times as every little bit of bad news impacts us, as each company is surprised by their results, so for now we just need to hold on to our hats and hope our stomachs can withstand the ups and downs of the rollercoaster ride. As Warren Buffets´ guru replied, when asked how the market would perform, volatile, at least we can count on that.