Lessons learnt the hard way

Scott Burns lays out some credit crunch lessons For the umpteenth month, the credit crisis continued to dominate headlines. September and October have been nothing but horrendous for the markets. As I'm writing this, the Dow Jones Industrial Average recently suffered its worst one-week drop in history, spurred by a credit panic unlike anything we have seen since the Great Depression. We finally got a bit of a reprieve when the developed economies of the world put forth a plan to take direct stakes in major financial institutions, but the mood is still tense. For a while now, I've been a...