Welcome Stockaholics!

We are a new and fast growing financial forum! Sign up for free and let's talk stocks!

  1. Do you want to help develop this community? We are looking for contributions from investors and traders like you! What stocks do you follow? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing financial forum!
    Dismiss Notice
  2. You will notice a live chat widget on the right. Click in to join us and lets hear about how you nailed that last UWTI trade!
    Dismiss Notice

anniversary of the 1987 crash

Discussion in 'Stock Market Today' started by StockJock-e, Oct 19, 2017.

  1. StockJock-e

    StockJock-e Brew Master
    Staff Member

    Joined:
    Apr 3, 2016
    Messages:
    7,216
    Likes Received:
    2,196
    I was too young to remember any of that, but if you are in your 60's you probably have some great stories of that day!

    http://www.bbc.com/news/business-41685002

    [​IMG]
    Black Monday 1987: 'Our jaws hit the desk'
    By Joshua Cheetham & Daniele Palumbo

    Thirty years ago investors were stunned as global stock markets collapsed like a chain of dominos.

    The day became known as Black Monday as months and years of share price rises were reversed in a single day of trading.

    One dealer recalls being so stunned "jaws were hitting the desk".

    In August 1987, every major US index hit record highs. But in Autumn of that year investors began selling - and - by October, at a rapid rate.

    Pessimism appeared to be setting in the days running up to Monday 19 October.

    Both the Dow Jones and the S&P 500 had lost more than 9% over the week by the time markets closed on Friday 16 October.

    That loss had Asian investors playing catch-up when they opened for business on Monday.

    And as more markets opened, that selling activity in Asia sparked more selling in Europe, leaving the US playing catch-up with the losses it had originally inspired.

    By the end of the day, the Dow Jones had fallen by more than 20% and the UK's FTSE 100 by 11%.

    It ended up as the steepest crash since 1929.

    "Our mouths were wide open, our jaws were hitting the desk," says Peter Borish, who at the time was second in command at Tudor Investment Corp, a US hedge fund.

    Tudor was one of the few firms to predict the crash and ended up turning a profit by innovative use of computer modelling.

    "Fear always trumps greed and fear was at its maximum point then, so when people are fearful rationality goes out the door and they just start selling."
     
    bigbear0083 likes this.
  2. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    23,457
    Likes Received:
    8,485
    wow has it really been 30 years! :eek:

    crazy!

    happy 30yr anniversary everyone! :D
     
  3. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    7,519
    Likes Received:
    2,436
    Saw the thread title and figured YOU created it. Usually you're on top of things like that!
     
  4. Timbo

    Timbo Active Member

    Joined:
    Jan 15, 2017
    Messages:
    396
    Likes Received:
    139
    I was 22 and more into weed n chicks than my financial future.
     
  5. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    23,457
    Likes Received:
    8,485
    dang it, i'm usually on top of these things!

    i nearly forgot to give this thread a bump on this being the 31yr anniversary of the '87 crash.

    happy anniversary everyone! :p
     
  6. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    23,457
    Likes Received:
    8,485
    fwiw this coming monday is the anniversary of the 1987 black monday crash :hmm:


    [​IMG]
     
  7. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    23,457
    Likes Received:
    8,485
  8. roadtonowhere08

    Joined:
    Apr 13, 2020
    Messages:
    82
    Likes Received:
    31
    Getting some very well deserved recognition, bigbear0083. Congrats! :banana:
     
    bigbear0083 likes this.
  9. The Brontide

    The Brontide Active Member

    Joined:
    May 15, 2020
    Messages:
    283
    Likes Received:
    112

Share This Page