Where did the money GO?
Hi Terry ,what happens to money that is lost in the stock market? My brother say,s that he has lost alot of money with the stocks lately and wanted to know where it goes. Thank you.
Terry Says
This is a GREAT question — and several people have asked me. It reminds me of when I was a young trader on the floor of the CBOE in 1073 and the market was crashing. The Dow went from over 1,000 to a low of 570.01 — a decline of about 50%. I watched EVERY stock go down, without exception, and they went down a lot!
I was standing next to an “old” trader at the time. I remember asking him ” Where did all the money go?” He solemnly replied, Well, my dear, it went to Money Heaven!”
And now you’ve given me my next column! Watch for more on that story in your local newspaper or on my website next week!
