The following is an excerpt from Julia La Roche | February 16, 2016 | Thefiscaltimes.com |
The 2016 market has been brutal for Wall Street, with global stock indexes getting slammed as oil prices have continued to fall.
Here's a quick scorecard through Monday:
Shanghai Composite index (-19.83%)
Activist investor Dan Loeb, who founded the $17.5 billion hedge fund Third Point, wrote to his investors that the indexes' declines "actually fail to capture the true carnage revealed when you take a closer look at the breadth of S&P companies experiencing massive losses."
He continued: "In some cases, these losses may represent permanent value destruction. The 2015 market we dubbed a Haunted House feels about as scary as the Disney kids' ride It's a Small World when compared to 2016."
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