The last few days, we saw global markets take a frightening stumble. Beginning with the Shanghai Index (FXI), falling 8.8% by day's end, Japan, Europe, and the Dow took smaller but equally rough spills. Taiwan, on a holiday, didn't see the gut punch until the next day. NYSE computers, unable to keep up, were backed up until a server switch caused the ticker to plummet with backlogged orders, exacerbating the situation and dropping stop levels all around. Welcome to the digital age.
The bright side of the story is that the ticker has recovered about half the loss. But as a lesson in volatility, I hope it was heard. Stories of people in China borrowing against mortgages so that they could "avoid risk" by buying only one stock… well let's just say the market is healthier when homebrew speculators are spooked.
It was also no surprise that the correction came on the heels of Bank of Japan's tightening of interest, and thusly putting the dent on global liquidity. I'm going to set my prediction in solid stone right now. After this correction, markets will continue at the same pace, and any further corrections will be saved by the influx of private equity (read: buyouts from the blue). Once they're involved, volatility will be insane, and they will move in and out of the market at will as the worst hedge funds do. Personal investors beware: I think it is impossible to ignore the technological mechanics of trading anymore. This ain't your daddy's Buffet's exchange, and the horizon for fundamentals to presevere in is longer and choppier than before.
Nothing in gaming to talk about, other than that we (personally) are seeing new prospects I hope to talk about soon. In the meantime, enjoy this very interesting economics article:
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