The Paper Towel Market: Bad News Cleaned Away Fast
Tim Knight | Jun 20, 2018 09:01AM ET
Those of us of a certain age will recall a frequent television commercial for paper towels illustrating how much more absorbent they were than the competition. They were described as “the quicker picker-upper“ and their absorbent qualities would be illustrated thusly:
It occurs to me that this is precisely the kind of market we are in right now. If bad news comes, sure, there might be a day or two of rumbling and hand-wringing, but it all gets absorbed, it all gets digested, and everyone moves on. Recent history has been just another example of this resilience. All the horror about a global trade war seems to have been shrugged off in a matter of three days.
The paper towel metaphor extends itself by an extra step, calling to mind everyone who has been making profits off the likes of Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX), and IQ lately … Bounty.
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