Sign In / Register
A vivid and sobering account of the 1980s stock market mania that swept New Zealand and Australia, and the dramatic collapse that followed the US crash of Monday October 19, is the subject of a report recently released online.
Written by National Business Review (NBR) founder and former publisher of the NZ Financial Review, Henry Newrick, the 19-page report traces how deregulation, easy credit and a “cult of the deal” created a climate in which leverage, inflated asset values and exuberant assumptions overwhelmed caution.
It explains how banks, boards, accountants and media helped amplify the boom – then captures what it felt like for ordinary investors on October 20, 1987 as share values plunged with astonishing speed.
“The aim is to describe the era honestly – how it looked, how it felt and what it cost,” Newrick says.
“It’s a story of ambition and consequence, and a reminder that markets can turn faster than anyone expects.”
The Day the Markets Died has been released as a free downloadable PDF, available at www.RabPubInfo.com
