But the greatest pain will come from the recent fall in margin debt (until recently, the main source of revenue growth for e-brokers), either because customer positions have been forcibly liquidated to cover losses, or because whisps of prudence are in the air.Not surprisingly, their share prices have suffered even more than the overall market.
That tree was the proverbial symbol of prudence because it was believed to be the last to produce new leaves in the spring.
You would want to avoid many of these countries right now out of prudence, because they're in a state of civil war.
My judgement, for what it is worth, is that it would be safer to err on the side of prudence, because there is a strong probability of the next global recession happening during the next parliament.
But why? Partly, it's because bureaucracy grows out of prudence, a desire not to repeat the mistakes of the past.
Because of his prudence, the council appointed him tutor to the young king (June 1428 May 1436).
Nonetheless, this time around we may just squeak by, largely because of the prudence of our central bank.
Australian bankers, of course, tend to argue that this is because of their prudence and good judgment.
Over the past few years state subsidies to manufacturing have declined in most "Club Med" countries, largely because of greater prudence by the cash-strapped governments concerned.The two big countries where state aid has increased recently are Germany and France (see chart).
