Thursday Jan 12, 2012
I had meant to spend more time writing about my experiences at duPont Walston when Ross Perot owned the firm. We endured a six month training program on Wilshire Blvd in Los Angeles CA. ONly 25 of the origianl 41 or so our group survived the ordeal. With typical military and then in vogue IBM fashion, it was suggested that the wing tip shoe style was appropriate dress for a stock broker. Even in 1973,those were a dated idea but, fashions are in important statement about social mood. What is happening at Cole Haan today is not what Ross Perot had in mind. Understand that a blue blazer and grey slacks was a wild outfit in Ross Perot's world.
The article is on page D1 of today's WSJ. It notes that wingtips have gone wild with crayola colors. Two women's brands are adding mens' lines.
It is one thing for fringe brands to dabble in such designs but when Cole Haan and Brooks Brothers step up to the plates it is something to note. Market extremes are accompanied by unusual behavior. The market lows of 1973 witnessed the 'streaking craze' running naked in public places. Flag pole sitting was the rage during the Depression We noted that Planking had taken hold recently.
Bright colors - optimism.
Look for this line to be discontinued at the market bottom likely due in 2013,,,,
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