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  1. First-Class Catastrophe

    by , 11-27-2017 at 07:45 AM
    First-Class Catastrophe, A: The Road to Black Monday, the Worst Day in Wall Street History
    by Diana B. Henriques

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    Monday, October 19, 1987, was by far the worst day in Wall Street history. The market fell 22.6 percent – almost twice as bad as the worst day of 1929 – equal to a one-day loss of nearly 5,000 points today.

    Black Monday was more than seven years in the making and threatened nearly every U.S. financial institution.
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  2. Founder of Canarsie Capital wrote to his clients to say he had run their accounts down from $100 million less than a year ago to just $200,00

    by , 01-30-2015 at 09:42 AM
    It’s one of those rare moments of humility on Wall Street, a placed where “indicted but never convicted” is a badge of honor. A hedge fund chief who lost all of his client’s money told them he was sorry.

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    Owen Li, founder of Canarsie Capital, wrote to his clients to say he had run their accounts down from $100 million less than a year ago to just $200,000. Reportedly, he got into a hole and took on a string of high-risk bests
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  3. “LinkedIn demonstrated strength in the third quarter, leveraging the scale created by our member network to deliver growth across all three product lines”

    by , 11-07-2014 at 04:30 AM
    On Monday Twitter reported slowing user growth setting up that stock to open down 13% the following day. Tuesday Facebook told investors that its costs will rise between 50% and 70% next year — shares opened down 6.6% Wednesday. Initially its seemed LinkedIn would complete the crummy social earnings trifecta as the stock tumbled as much as 7% following its after-hours release Thursday. But about 45 minutes after the closing bell the stock was up more than 2.5% to around $208.50.

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