Brendan Keenan: When you hit rock bottom, the only way is up -- but making next move is vital
Figures suggest we've turned the corner -- now the hard work begins
I have done a bit of bottom-fishing -- the real kind, not the financial thing. But they have at least one thing in common. The fisher is apt to get snagged on the bottom and lose some expensive gear.
The difficulty for both is knowing where the bottom is. Any ordinary punter still with the nerve to trade shares could have made spectacular profits over the past year. But the losses could have been just as great, with many shares finding new bottoms, often below what seemed possible.
Wise folk take no part in such risky activity. But all of us have an interest in identifying a bottom for the economy. And perhaps -- just perhaps -- we now can.