Flash Crash: Rage Against The Machine by Worth Wray of Evergreen Gavekal Capital
"The world clings to its old mental picture of the stock market because it’s comforting; because it’s so hard to draw a picture of what has replaced it; and because the few people able to draw it for you have no interest in doing so." - Michael Lewis, author of the bestseller Flash Boys
Summary Of EVA’s Key Points
The second widespread US equity “Flash Crash” on August 24, 2015 was a wakeup call for investors.
- In addition to the S&P 500’s 5% fall as the market opened, blue chip stocks and large “exchange traded funds” (ETFs) suffered enormous 20%+ drops before recovering almost all of their losses...
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