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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?


To: Bilow who wrote (15330)4/4/1998 11:02:00 AM
From: Bilow  Respond to of 18056
 
Hi All; I've been reading Manias, Panics, and Crashes
and noticed some comments of a general interest:

If the panic takes the form of a run on a bank or banks,
it is usually started by small depositors. Such has been the
case in recent times in the Ohio and Maryland troubles of
state banks not covered by FDIC insurance. Stock market
panics, on the other hand, are usually thought to be the
result of concentrated selling by big-money insider
speculators or institutional investors such as mutual
funds, pension funds, and insurance companies, perhaps
severally following similar models of program trading. But
contrary examples are occasionally encountered.

p. 96 3rd edition paperback.

-- Carl