Back in late August, you may have read about a market crash forecast brought about because of some 245,000 put options on the Dow Jones Eurostoxx 50 index.
Well, today, September 21st, is the 'drop-dead' date for this 'bet.
While I do occasionally read fringe stuff for the entertainment value, and certainly if I feel my day is kind of dragging-by (nothing makes time pass faster than reading 'fluff' on the web), I still wondered whether this one might actually come true.
Some had speculated the market crash would be brought about by China cashing in their dollar. And no-doubt yesterday when the Canadian dollar became equal in value to the U.S. dollar for the first time in thirty-one years it reminded of this 'forecast' but certainly didn't bring the economy down by one-third.
Even the U of F taser incident didn't get me too worried. . By the way, if you want a nice, sickening read on the incident, just cruise over to the Officer.com Forums and see all the wonderful things being said about liberals and how the police are always right (figuratively and politically).
But I digress.
When I first read about the market crash forecast, I decided I was going to put it on my Yahoo! calendar and to create an alarm to remind me when this forecast was supposed to have come to pass. I got the idea from Rhandi Rhodes, "always make a timeline!"
So as of today, someone is out a huge amount of cash and who knows how many went down as well out of fear.
Thank goodness I didn't buy all that backpacking food! :)