I follow the markets in Asia and today was unbelievable. Sentiments are horrible, people are scared. Europe markets are following suit. I hope you guys in North America had a good night’s sleep because waking up to this news is really depressing. I’ll be staying up to see what happens tonight in the US. Good luck to all of us.
This could very well turn out to be the worst day for the DOW … EVER!
I am in asian too. Wish the best of all in U.S. Today might not be as bad as we expected.
and it’s also the anniversary of the great crash of '29… ppl already talking circuit breakers before market opening.
Ya there were printouts for the circuit breakers littered all over the place by the printer this morning.
what does it take to break the circuit?
And the century is only 8% complete…
CareerChange Wrote: ------------------------------------------------------- > what does it take to break the circuit? http://www.nyse.com/press/circuit_breakers.html Dow has to lose 1100 points to trigger the first circuit. That was about 10% of the DOW market cap at the beginning of the quarter, and is of course a good bit more than that now (13% of the current market cap). We’re no where close right now.
HK ended down 1600pts (-12%) after last Friday’s down 1100pts. Nikkei down to 26yr-low. I don’t know how much more this can go on. What will the US do after dropping ONLY 312pt on Friday which was better than expected. Will we get the huge sell-off today that didn’t happen last Friday?
With the US economy on its knees and the US gov stimulating a huge inflation and interest rates, there is no way Asia can sell its stuff to the US while holding worthless dollars earned the last few years. Fundamentally, Asia is looking quite strong.
Dwight Wrote: ------------------------------------------------------- > CareerChange Wrote: > -------------------------------------------------- > ----- > > what does it take to break the circuit? > > http://www.nyse.com/press/circuit_breakers.html > > Dow has to lose 1100 points to trigger the first > circuit. That was about 10% of the DOW market cap > at the beginning of the quarter, and is of course > a good bit more than that now (13% of the current > market cap). > > We’re no where close right now. crazy…
Here’s a quote that’s pure gold and probably one of many reasons why we are so screwed since there are such profound idiots in power. “We were seeing things that were 25-standard deviation moves, several days in a row.” - David Viniar, Goldman Sachs CFO. 25 standard deviations? Several days in a row? What an idiot.
David Viniar’s compensation as of fiscal Year 2007: $23,185,474 USD
Level 2 guy Wrote: ------------------------------------------------------- > HK ended down 1600pts (-12%) after last Friday’s > down 1100pts. Nikkei down to 26yr-low. > I don’t know how much more this can go on. > > What will the US do after dropping ONLY 312pt on > Friday which was better than expected. > Will we get the huge sell-off today that didn’t > happen last Friday? Damn
sublimity Wrote: ------------------------------------------------------- > Here’s a quote that’s pure gold and probably one > of many reasons why we are so screwed since there > are such profound idiots in power. > > “We were seeing things that were 25-standard > deviation moves, several days in a row.” > - David Viniar, Goldman Sachs CFO. > > 25 standard deviations? Several days in a row? > What an idiot. Haha - This is one of the funniest quotes I have heard in the past year since all this mess started. “Clearly, if Mr Viniar is thinking in terms of bell-curves, this is just cretinous. Even a 9 standard deviation event is unlikely to have happened even once a second since the universe began.” - stumblingandmumbling
projectplatnyc Wrote: ------------------------------------------------------- > sublimity Wrote: > -------------------------------------------------- > ----- > > “We were seeing things that were 25-standard > > deviation moves, several days in a row.” > > - David Viniar, Goldman Sachs CFO. > > > > 25 standard deviations? Several days in a row? > > > What an idiot. > > > Haha - This is one of the funniest quotes I have > heard in the past year since all this mess > started. > > “Clearly, if Mr Viniar is thinking in terms of > bell-curves, this is just cretinous. Even a 9 > standard deviation event is unlikely to have > happened even once a second since the universe > began.” - stumblingandmumbling Even more clearly: Mr. Viniar understands the difference between a) “were” and “are”, as in “things that were” represents history, not the present or future b) assumption of normality and Chebyshev’s inequality