Fear is more powerful than Trust Tuesday, October 07, 2008
It is often said that markets are driven by greed and fear. Well, there's lots of the latter in abundance presently.
Yet in the current turmoil, I think it's more apt to think of the inverse characteristics of trust and fear, namely
- Fear can be instantly acquired but trust takes time to build
- Trust can be lost instantly but fear takes a long time to shake off
- Fear can immediately or gradually replace trust, but trust can't immediately replace fear
- Fear can be fed by the actions and comments of strangers, but trust only builds from personal relationships, our own experiences and those of people we are close to