Friday (Oct 19) was the 20th anniversary of Black Monday. And the market really responded by taking out 367 points from the DOW!!! We are fortunate it was not as bad as 20 years ago, although we might be in for a rude awakening this Monday (I think we’re going down, but it will a downtrend in an otherwise bull market). If anybody still remembers, there was also a Movie called “Wall Street”, which was released after Black Monday and depicted the excesses of the 80s. The movie also immortalized the name Gordon Gekko (played by Michael Douglas, who incidentally won the BEST ACTOR Academy Award for his role). Well, Gordon Gekko is now coming back in a sequel to Wall Street titled “Money never Sleeps.” Word has it that this movie will focus on Hedge Funds (it was Corporate raiders using junk bonds in the 1980s). There are sharp lessons on investing to be learned from the portrayal of Gordon Gekko. Here’s the clip.
The lesson is: INVEST ONLY WHEN YOU’RE SURE! And stop throwing darts around (trading for the sake of trading).
Chief Shook
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