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What is ' the concept was heavily marketed'? As one example of what can happen under forced sales, Buffett reviewed October 19, 1987: The infamous Black Monday when the Dow Jones Average dropped 23% in a single day. It was driven by portfolio insurance, which was a joke. It was a bunch of stop/loss orders, but done automatically, and the concept was heavily marketed. People paid a lot of money for people to teach them how to put in a stop/loss order.
Nov 8, 2018 4:47 AM
Answers · 2
Marketed=advertised. Marketed heavily=There was a large advertising budget: all traders were told that they needed portfolio insurance.
November 8, 2018
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Seven
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