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- Title
What to do, or not do, about the markets.
- Authors
Ferguson, Robert
- Abstract
The author addresses the securities market in the aftermath of the crash of October 1987: "I have focused on the damage that can be done to the securities market by substituting metaphor for the real thing...I see two solutions: One is a way of approaching margin requirements that eliminates the possibility of forced selling and a failure of the financial system. The other is provision of an electronic market open to all investors that automatically expands and contracts to meet their needs. Changes in the operation of securities markets need to be in the direction of more flexibility, not less. Current focus seems to be on less, however, perhaps because of a combination of shortsightedness and the inappropriate extension of metaphor."
- Subjects
STOCK Market Crash, 1987; FINANCIAL crises; MARGINS (Futures trading); DATA processing in stock exchanges; ELECTRONIC trading of securities; FINANCIAL markets
- Publication
Journal of Portfolio Management, 1988, Vol 14, Issue 4, p14
- ISSN
0095-4918
- Publication type
Article
- DOI
10.3905/jpm.1988.409173