Pro Wrestling’s Bad-Guy Scenario Leg-Drops Markets
Turning from baby face to heel is great theater in politics, too, but the bigger drama for investors might be an AI-recession tag team.July 29, 2024 at 12:10 PM GMT+8
By John Authers
John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”
Hulk Hogan at the Republican National Convention.
Photographer: Al Drago/Bloomberg
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Professional wrestling has important applications to politics. Just witness the role Hulk Hogan took in nominating Donald Trump for president at the Republican convention earlier this month.
Wrestling also gave us the concept of the “heel turn” or “heel-face turn,” which is mighty useful for explaining recent events in both politics and markets. In wrestling, the bad guys (usually the popular ones) are heels, and the good guys are baby faces.
To keep things interesting, they occasionally swap roles. Hogan himself famously became a heel, and switched from red-and-yellow to all-black clothing, in 1996.
