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- Title
Portfolio Insurance and October 19th.
- Authors
Leland, Hayne E.
- Abstract
The article focuses on investment portfolio insurance and the stock market crash of October 19, 1987. The rationale behind portfolio insurance is examined, and the author considers whether portfolio insurance played a role in the crash of the market. Aspect of the Brady Report, chaired by Nicolas Brady and commissioned to determine the underlying cause of the market crash, are considered as they pertain to possible preventative measures that can be enacted. The implications for investors and market-making institutions are also discussed.
- Subjects
UNITED States; STOCK Market Crash, 1987; INVESTMENT guaranty insurance; PORTFOLIO management (Investments); RISK management in business; STOCK exchanges; HEDGING (Finance); RATE of return; ASSET allocation; INVESTMENT analysis; LIQUIDITY (Economics); FINANCIAL crises; MARKET makers; PREVENTION
- Publication
California Management Review, 1988, Vol 30, Issue 4, p80
- ISSN
0008-1256
- Publication type
Article
- DOI
10.2307/41166528