Matt Levine, Columnist

Black Monday and Long-Term Investors

Also Saudi Aramco, Guy Gentile, and the tokenization of all the things.

October 16, 2017 at 1:37 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Happy Black Monday Day.

This Thursday is the 30th anniversary of Black Monday, Oct. 19, 1987, "the biggest single-day stock market collapse in history," and here is a Bloomberg Markets oral history of the event that somehow gets the phrase "volatility skews" into the third paragraph. This is how Eric Rosenfeld of Salomon Brothers started the day: