Free Coordinates

Encouraging stories…

Tags:

Writing in the FT on the “guff” “surrounding stock markets at the moment”, Merryn Somerset Webb says “it feels as though we have reached a point in the market cycle where everyone is preferring stories to reality.”

Yet as Yuval Noah Harari points out in his seminal Sapiens, we are an essentially storytelling species. Stories are our reality.

That’s not to say that there is only ever just one story for any given event. There are many angles; many stories. Take, as Merryn Somerset Webb does, the recent far from stellar stock market debut of food delivery firm Deliveroo. Why did the shares end their first day of trading 26 per cent down? One storyline focuses on Deliveroo’s dual share structure – standard practice for tech IPOs in the US, relatively new and offputting in the UK. Another highlights environmental, social and governance (ESG) concerns surrounding the gig-workers at the heart of Deliveroo’s business. My money is on Merryn Somerset Webb’s take: “busy bankers at Goldman Sachs and JPMorgan” simply “mispriced the Deliveroo deal”. Either way, it’s a matter of stories.

More than any other means, stories are how we make sense of ourselves and our world – stock markets and all. So rather than question everyone preferring stories, we should encourage everyone to tell more and better stories. Stories that not only make sense but ring true; ones that stand out and stand the test of time.

Tags:

© 2011 Free Coordinates. All Rights Reserved.

Powered by Wordpress and Magatheme by Bryan Helmig.