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Re: jessellivermore post# 118079

Tuesday, 11/21/2017 8:02:22 AM

Tuesday, November 21, 2017 8:02:22 AM

Post# of 423577
Thank-you. I couldn't recall the name of LTCM. They are the ones I credit with the market crash of 10/19/1987. They visited my office early in that year trying to sell a heavily back tested trading model that sold if the market was down and bought if the market was up. They had certain trigger points for selling and buying. So much smart money was following the strategy by October 19, that every sell trigger point was hit and then some. Not a bright spot in the early days of program trading.I believe Soros was following the strategy and was down somewhere close to $1 bil., but my recollection on this point is hazy.

All it takes for evil to prevail is for a few good men to do nothing.

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