Adventures in Finance 38 - Black Monday: First Hand Accounts of the 87 Crash

Real Vision: Finance & Investing

Real Vision

Business, Business News, News, Investing

4.2 • 1K Ratings

🗓️ 20 October 2017

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

On the 30th anniversary of Black Monday, we recreate the events of that tumultuous time through the eyes of people who found themselves trying to navigate the biggest drop in Dow Jones history. The legendary Art Cashin takes us behind the scenes at the NYSE, while Bill Fleckenstein, David Hay, Michael Lewitt and Greg Weldon share their personal stories alongside Michael Oliver and Trader Vic – Victor Sperandeo who famously predicted the crash a few weeks before the event. Lastly, we hear the incredible story of hedge fund manager Richard Pomboy whose foresight saved his investors millions Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Picture yourself on the beach, retired early and enjoying financial freedom.
0:08.0	If this is your dream, then now's the time to level up your investing game, and Real Vision can help you. We arm you with the
0:15.0	knowledge, the tools, and the network to succeed on your financial journey on your
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0:26.0	forward slash free. Hi, I'm Raal Pal, co-founder and CEO of Real Vision. Thank you so much for listening to the Real Vision
0:41.8	podcast. At Real Vision Podcast.
0:43.0	At Real Vision, we pride ourselves in providing the best in-depth expert analysis available
0:48.0	to help you understand the complex world of finance, business and the global Economy. If you like what you hear, I hope
0:55.7	you'll accept my invitation to try Real Vision Plus for 30 days for just one dollar.
1:01.9	Visit Real Vision Podcast.com today and join us. just one dollar. Visit real vision podcast
1:03.4	dot com today and join us as we navigate the financial world together.
1:07.8	Cheers.
1:08.8	Good evening everyone.
1:10.4	The law of gravity at Wall Street today and financial markets around the world for that matter
1:15.0	as stock prices plunged even more than they did on Black Tuesday of 1929.
1:20.0	In the dust settled, the Dow Jones Industrial Average had lost more than five hundred eight points,
1:25.0	on volume of six hundred four million shares.
1:27.0	It's nearly double the previous record.
1:30.0	We have reports on the... Good evening, I'm Willis Bluekeyes.
1:32.0	This is Wall Street Week. Welcome back.
1:35.0	Okay, let's start with what's really important tonight. It's just your money, not your life.
1:41.6	Everybody who really loved you a week ago still loves you tonight and that's
	...

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