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35 Years Later…Retrospective on the 1987 Stock Market Crash

Alpha Exchange

CHAPTER

The Impact of Back-Indexed Futures and Portfolio Insurance on the Stock Market

This chapter explores how the introduction of stock index futures increased correlation, influenced the use of portfolio insurance, and discusses the role of macro variables, monetary policy, and geopolitical factors in market prices and volatility. It also reflects on the crash of 1987 and the role of portfolio insurance in exacerbating the market downturn.

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