From FT Alphaville:
That was nuts. Is this the crash?
Eight minutes of wonder for the S&P 500.
Let’s call it the Alibaba indicator, with thanks to BofAML’s Thundering Word:...MORE
The S&P500 index peaked at 2019 roughly 8 minutes after the Sept 19th launch of the Alibaba IPO.
For the record we posted "Equities: How's About a Thousand Dow Points (to the downside)?" at 8:52 am EDT on the 22nd.
Photons emitted from the Sun take 8 minutes and 19 seconds to reach the earth.
Bonus fun fact: 'Seasons in the Sun' is one of fewer than 40 titles that have sold more than 10,000,000 copies as singles.
(estimates of total sales range from 3 to 11.5mm)
