, Columnist
The Tech Stocks Rebound Is a Dinosaur Brain Event
The tail has been bitten, but the signal hasn't reached the control center yet.
Call my broker and tell him I'll have 100 board lots of Tesla.
Photographer: JULIO CESAR AGUILAR/AFP/Getty Images
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When markets are their most bizarre, as they have been in the last 24 hours, I find myself embracing the brontosaurus. That long-tailed dinosaur was the hero of an analogy drawn by Jeremy Grantham, the highly respected co-founder of fund management firm GMO in Boston, back in the summer of 2007. I have found it useful ever since. The brontosaurus symbolizes the stock market, and the key point is that giant dinosaurs were exceptionally slow on the uptake.
This is what Grantham wrote: