"Stocks ... Will Fluctuate"

Now what was it again that made us nervous about unregulated free markets?

“This is a panic in the way of the fine 19th-century panics, where we all run around like headless chickens,” said R. Jeremy Grantham, chairman of the Boston-based investment firm GMO, who had predicted stocks would tumble. “I have been in the business for 40 years, and I have never seen anything like this.”

Mark Landler and Vikas Bajaj in the NYT

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