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Alex Filonov
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I was born in 1956 in USSR. After graduation from college in 1979 I worked full-time as an IT specialist. Until 1990 I worked for different companies in the Soviet military industrial complex. I created a small software business in 1991, which failed in 1993. I worked for Oracle Corp in 1995 in... More
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Muddling Investor
  • Sell-Off 0 comments
    Nov 22, 2012 1:26 AM

    I've read a lot of explanations for the post-election selloff. They all don't make much sense. Fiscal cliff is not news. No matter who won presidential elections, there would be fight in Congress about taxes and spending. Europe is in the news for two years already.

    I think it was Sandy. It hit places where a lot of traders live. People needed money and had to sell something to get it. When you have thousands of people selling at the same time, you get market drop. And this drop is short lived, because they got enough money for initial expenses.

    Well, I might be wrong.

    Themes: Market Outlook
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