The Crash: the 1987-88 World Market Slump
In the early part of October 1987, the world’s stock markets were at record levels. By the end of the month they were in disarray with record falls not only in London and New York but Tokyo, Sydney and Hong Kong, where trading was suspended. Since then the media have been exploring the whys and wherefores and forecasting what might be about to happen next.
But only so much can be done in short articles — The Crash for the first time gives not the glib answers but a controversial and forthright critique of the whole system.
In this book, the author ties in the crash to the short memories of the markets which react instantaneously to events. He highlights the fact that the 24-hour market, which was heralded as a great stabilising factor, in fact means increased stability as the markets fell domino-like one after the other. The book should be of interest to shareholders and anyone interested in the workings of the market.
His hard-hitting analysis goes further than mere journalistic comment and makes The Crash required reading for shareholders and anyone interested in how the market works.