CRASH TEN DAYS IN OCTOBER... WILL IT STRIKE AGAIN?

• Main Authors: Arbel, Avner 1935- (Author), Kaff, Albert E. (Author)
• Format: Book
• Language: English
• Published: Chicago, Illinois Longman Financial Services 1989
• Subjects: Stocks > Prices; Stock Market Crash, 1987
• Online Access: Click Here to View Status and Holdings.

 International financial markets are a bomb that's still ticking... CRASH reveals why... At noon on Tuesday, October 20, 1987 Wall Street went through its worst 10 minutes in history. What's the message for the future? • Even with a strong economy, the stock market may collapse again. How will it happen? What will be the dynamics of the next crash? Who will be affected? • Mechanical failure of an electronic printer during a peak period can plunge the stock market into disaster tomorrow, next week or next year. • The chairman of the Hong Kong Stock Exchange was arrested after Black Monday. • Little-known specialists, not the big security houses, are critical to Wall Street trading-this specialist system collapsed on October 19-20, 1987, and may collapse again unless archaic practices are reformed. • Before the opening bell rings on Wall Street, brokers ask, "What hap- pened in Tokyo last night?"-stock exchanges around the world are becoming linked into one marketplace. The world's biggest stock exchange is not on Wall Street. Rather it's in Kabuto-cho. What are the implications for American markets? Far from causing the 1987 stock market disaster, the much-aligned pro- gram trading shortened the crisis and generated a "smart" crash. • When the regular market fails, the fourth market takes over. What is the fourth market? What does it mean to you? To the economy? • The split-second information system that tells the big guys on Wall Street when to buy or sell failed on Black Monday and Terrible Tuesday, and can fail again. • Factors that saved the market in 1987 may not work in the future. • After the 1929 crash, Washington dragged its feet for three years before designing ing safety valves for Wall Street. In today's computer age, we can't wait that long. The post crash takeover craze and junk bonds can lead to disaster. The cracks have been patched. But why are they bound to crack open again? • Where does all this leave the small investor? Written for everyone on Main Street and Wall Street, CRASH vividly illustrates why business-as-usual could create a future stockmarket crash that could dessimate us all!