To get an even better understanding of what the (financial) world looked like just before one of the worst stock market crashes in 1987, we are going to have a look at another popular person in those days. His name is Gordon Gekko. He is the star of Oliver Stone’s film Wall Street. Gekko was portrayed by actor Michael Douglas, whose performance won him an Oscar for Best Actor. Although Oliver Stone intended to critically portray the culture of greed that was prominent at Wall Street during the eighties, to many people Gordon Gekko was a hero. Gekko’s motto “Greed is good” was the incentive for some viewers of the movie to become stock traders themselves. The shooting of the movie started in April 1987 and lasted until the beginning of July 1987. Before the movie was released on 11 December 1987, US stocks markets had collapsed.
The S&P 500 (+0.07%) and Dow (+0.18%) closed at all-time highs on Tuesday. The Dow failed to close above the psychologically important level of 23,000. The NASDAQ recorded a tiny loss: -0.01%. Volatility was on the rise: the VIX closed above 10 points at 10.31 (+4%). UVXY ETFs profited only marginally and closed 0.25% higher. XIV ETNs recorded a minor loss: -0.14%.
Our models hardly moved yesterday. Danny Daredevil‘s RSS closed just below 12%. Adventurous Anny is still holding cash. Her RSS remained at 9%. The RSS of Solid Suzy and Lazy Larry closed at 64%. Their AAR remains a healthy 123%.
None of our models gave a trading signal at the end of yesterday’s session.
RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return
A biologist, a statistician, a mathematician and a computer scientist are on a photo-safari in Africa. As they are driving along the savanna in their Jeep, they stop and scout the horizon with their binoculars.
The biologist: “Look! A herd of zebras! And there’s a white zebra! Fantastic! We’ll be famous!”
The statistician: “Hey, calm down, it’s not significant. We only know there’s one white zebra.”
The mathematician: “Actually, we only know there exists a zebra, which is white on one side.”
The computer scientist : “Oh, no! A special case!”
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