Today, we find ourselves in a strong position to ride out the waves of change. Nevertheless, we are fully aware that past success does not guarantee immunity from future challenges. Ladies and gentlemen, there is irrational exuberance, just as there is radical uncertainty, with periods of calm in between.
This is our present reality and we must constantly work for balance and re-balance, managing the pace and the content of foreseeable change in our own spheres of responsibility. As market stakeholders, we must see change in the factors that reshape the markets and their participants.