MIPIM malaise/hype

Setting up straw men and them shooting them down is a fun way for journalists to spend pre-exhibition days. Making fun of people who think the crisis is over is an efficient way to do this. If you can’t find such people (it’s really tough) then find someone who claims to know one. Case in point: this article at Forexyard.

“Some of the industry will have you believe that we are still in 2005,” said Simon Lyons, joint chief executive of Enstar Capital, predicting premature celebrations of the market’s health among those least in a position to do so. Lingering issues such as debt, European economic health, and the possibility of a double-dip recession remain, however.

Dear Mr Lyons, could you please introduce us to some of these people on LinkedIn? We have some oil-rich, Nigerian beach frontage properties they might like to buy.

The rest of the article includes pretty standard mood setting, like:

Lyons is one of many professionals warning of a return to the culture of pre-recession MIPIMs, when its success was gauged by the number of expensive dinners lavished on new contacts rather than time spent in serious business meetings. Some delegates will be entitled to reinstate their cocktail parties or yacht luncheons after a relatively restrained 2009 MIPIM, but others are bracing for a week of pantomime to convince rivals their downturn woes are long behind them.

Yes kids, it’s true. It just ain’t like the old days.


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