Sierra Investment Management's Frank Barbera, co-portfolio manager of the Sierra Core Retirement Fund, has published his latest piece "Stocks Are Crashing in Shanghai."
He writes:
"In China, the Shanghai Composite plunged again on Wednesday even as regulators worked feverishly to contain a crisis that has now erased trillions of dollars in market capitalization from the country’s stock markets."
"In 12 straight days of decline, the unwinding of huge quantities of margin debt – which had soared five-fold in recent months – has been a big component underpinning the speed and persistency of the stock market collapse."
Stocks Are Crashing In Shanghai Composite
The major U.S. stock indices gapped sharply lower at yesterdays opening, with the S&P 500 opening down 16 points in...
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