In times of crisis it is natural for the value of companies, brands, organisations, individuals, and even states to be verified.
The reallocation of resources can take place slowly, over cycles of ten to twenty years, or abruptly, as is the case now. So what does the crisis amount to - an abrupt decline in stock prices, a decrease in car sales and house prices, or a quick reallocation of resources?
People and companies can change their priorities at short notice, sometimes depending on the others' priorities and not necessarily their own, or can seek to take shelter and sell, whilst prices continue to fall.
How about value, does this also drop? If a manager takes over a loss making company, but restructures it, turns it around and stocks go up, then the company's value is suddenly restored. As a result, no company has an intrinsic value - the context, the deals, the willingness to buy and sell, as well as timing, and the direction the company is headed are also decisive factors.
However, a price benchmark is also necessary. All the more so this year in the wake of a global meltdown, which includes the Wall Street investment banks that set the original values of companies.
Maybe this is where the key of the troubles lies - allowing investment banks to trade on the Stock Exchange, either for self interest, or for their customers', whilst, at the same time, evaluating companies for floatation and researching reports for clients or the public.
How thick was the wall dividing the research department, which rated certain shares as "BUY", and the sales department, where the brokers were prepared to sell?
Who should set the correct value of a share for a third party, whilst they are involved via a different department in the sale or buying process? It remains a very difficult question to answer.
However, it is a question th