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Pastimes : Book Nook
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To: Ilaine who wrote (402)2/20/2002 5:50:19 PM
From: Mike M2   of 443
 
CB, on Monday Oct 19, 1987 608 million shares traded wiping out $ 500 BILLION in paper wealth. I can't find the dollar value traded that day but I do recall a figure of $52 billion - I didn't want to post it at first but now that number seems reasonable 608 million times $ 85 per share comes out to approx. $54 Billion . This estimated $54 billion in sales destroyed ten times that amount $500 in paper wealth. Prices are set at the margin. Do underestimate the power of TL & EV -g- ho ho ho Mike
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