The Billionaire Hunt brothers tried years ago to corner the silver market and were wiped out.
Soc Gen just lost $8 billion trying to manipulate stocks.
Bear Stearns has just gone broke in the US because so many of their derivative bets blew up.
Lehman looks like following suit.
All the big banks and brokers in the US have been slaughtered in recent months.
Its called a bear market.
The polar opposite of a bull market.
During a bull market virtually all stocks go up and anyone can make money.
During a bear market the opposite happens.
Companies get torn to shreds.
Can anyone remember the 80s??
Look at all the big companies that went broke.
Bond corp,Qintex,Tricontinental,the State bank of Victoria,Estate Mortgage...the list was endless.
You can blame shorters till the cows come home,but the reality is that many of these companies are duds with too much debt.Shorters just did their homework.
And remember Selling begets selling.
Fear begets fear.
and finally..
Ask yourself this question.
How much do you really know about these companies?
Don't be fooled by glossy brochures or fancy websites.
