Reports leave all involved looking right tulips

THE late Bob Beckman wrote a book in 1988 called Crashes: Why They Happen and How to Survive Them.

The author analysed the great financial crashes of modern times, ranging from the South Sea Bubble to Wall Street, in an attempt to prove that recent crises repeat precisely the patterns of earlier crashes.

At the time, he also had a famous radio show in London that dealt totally in fiance and business matters.