Bulls, Bears and Other Beasts by Santosh Nair

Author:Santosh Nair
Language: eng
Format: azw3, epub
ISBN: 9781509852390
Publisher: Pan Macmillan
Published: 2016-10-20T04:00:00+00:00

The party on Nasdaq ended abruptly on 14 March with a 4 per cent drop, sending the index tumbling to 4,707. And suddenly, investors in technology shares around the world were racing to exit the stocks, as if everybody had simultaneously realized at that magic moment that the business models of most of the technology companies were unsustainable. Overnight, these stocks – ardently pursued by fund managers and individuals until so very recently – became pariahs.

The scene was no different on Dalal Street. The panic selling over the next one month halved the prices of the technology darlings. Many investors saw their paper wealth diminish considerably, or even vanish. When the slide began, many traders and investors held on to their positions, thinking it was another of those bull market corrections that would reverse quickly. By the time they realized the gravity of the situation, trading volumes had dried up. In many stocks, trading was frozen because there were only sellers.

Like most of the others in the market, I too saw my paper wealth diminish. But there was plenty still left.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.