There has been quite a bit of discussion in various forums and on radio talk shows about a possible link between investors (and even governments) outside the US triggering the stock market decline last September and October. However, I have seen little or no evidence to back these assertions.
Last I heard it was several huge hedge funds that were getting losses in other areas and needed to raise capital quickly. They were dumping their stocks like crazy which drove the DOW way down.
Hedge funds are still unregulated today!!!!!
But it is a great time to buy those companies that should be around for awhile…..
As much as we’d all like him to leave the country and never come back, I don’t think George Bush counts as an external force.
References :
http://www.counterfeitculture.com/
There supposedly were a few days in September where it appeared that an electronic run on the banks was in process, in other words, a huge amount of transfers were occurring, in the magnitude of $500 billion per hour. I know of no evidence that it was external to the US, but the speculation is that only a foreign country would have the capability to do something like that. Or Soros. I was in Hawaii on a cruise at the time and was total oblivious!
Edit to add link below:
References :
http://seekingalpha.com/article/119619-how-the-world-almost-came-to-an-end-on-september-18-2008?source=front_page_most_popular_articles
Last I heard it was several huge hedge funds that were getting losses in other areas and needed to raise capital quickly. They were dumping their stocks like crazy which drove the DOW way down.
Hedge funds are still unregulated today!!!!!
But it is a great time to buy those companies that should be around for awhile…..
References :