The South African Stock Market Collapses

Jim Firdassel was a trader in South Africa during the Asian financial crisis. He says he made 58 percent on one of the best trades they did all year. The big trade at the time was shorting currencies because they're liquid and moving enormously. But interest rate markets were raising interest rates to stop speculators borrowing currency. It's expensive and it was difficult to do, as foreigners couldn't short them.