OK. So, when $60billion is wiped off the value of the local sharemarket (like today), where does it go?
All Ords plunge as recession fears grip
Allison Jackson | November 13, 2008
Article from: The AustralianLOCAL stocks plunged to the lowest level in more than four years today as $60 billion was wiped off the value of the sharemarket.
Well?
2 Comments
I’ve often pondered this self-same question many times recently.
I can’t really say for sure where it goes, but my sneaking suspicion is that it never really existed.
It’s amazing that the market can rise and fall so whimsically, even in response to something as trivial as the POTUS wearing odd socks one morning. Aren’t we really dealing in what we think things are worth rather than on actual value. Greed and fear – two sides of the same coin.
to the same place that all your hard work ends up when your dog hits the “delete” key…down the back of the sofa with that lost $50, the block of hash you thought the dog ate and…no darling, I’ve no idea how that item of female underwear got there…