Last visit was: 19 Nov 2025, 12:08 It is currently 19 Nov 2025, 12:08
Home
GMAT
Messages
Tests
Schools
Events
Rewards
Chat
My Profile
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
User avatar
sm176811
User avatar
Joined: 29 Apr 2003
Last visit: 13 Jul 2008
Posts: 1,038
Own Kudos:
94
Posts: 1,038
Kudos: 94
Dow down 500. Bad news for us? 27 Feb 2007, 14:43
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Wall Street hammered in global sell-off
Dow briefly falls near 550 points, decline worst since Sept. 2001

https://www.msnbc.msn.com/id/3683270/pri ... mode/1098/


This might be a good sign for MBA applicants (those yet to apply). Typically the application volume is directly proportional to the state of the economy. I.e., when the economy is doing well lot more people apply for MBAs (perhaps influenced by the high employment rate and salaries of the graduating batch). So the retardation of the economy will definately have a -ve impact on the volume of application.
User avatar
rhyme
User avatar
Major Poster
Joined: 05 Apr 2006
Last visit: 02 Dec 2024
Posts: 5,909
Own Kudos:
3,172
Given Kudos: 7
Affiliations: HHonors Diamond, BGS Honor Society
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE:Business Development (Consumer Packaged Goods)
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
Posts: 5,909
Kudos: 3,172
Dow down 500. Bad news for us? 27 Feb 2007, 14:49
Kudos
Add Kudos
Bookmarks
Bookmark this Post
-7,012.47 today.

ouch.
User avatar
3underscore
User avatar
Current Student
Joined: 11 Dec 2006
Last visit: 16 Mar 2016
Posts: 1,428
Own Kudos:
234
Given Kudos: 6
Location: New York, NY
Concentration: Finance (Corp Fin, Financial Instruments)
Schools:NYU Stern 2009
Posts: 1,428
Kudos: 234
Dow down 500. Bad news for us? 27 Feb 2007, 14:52
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Nothing like a bit of short-sightedness on this all really, is there?

It wasn't too much a surprise. Judging by my colleague's face, it was by no means one to him.

Just look at the growth the past 12 month - it's a bit of a short term reaction to EMs, and it will continue tomorrow, then probably slow.

If you truly believe yr shares are a discounted annuity stream...
avatar
flapjack
avatar
Joined: 28 Sep 2006
Last visit: 08 Dec 2008
Posts: 166
Own Kudos:
1
Posts: 166
Kudos: 1
Dow down 500. Bad news for us? 27 Feb 2007, 15:19
Kudos
Add Kudos
Bookmarks
Bookmark this Post
This is probably nothing more than a correction. Corrections are necessary every once in awhile to shake out the weak hands. The Chinese stock market was way overdue for a pullback. Didn't it rise over 100% last year?

I remember how awful 2002 was when the stock market seemed to go down every day.
User avatar
rhyme
User avatar
Major Poster
Joined: 05 Apr 2006
Last visit: 02 Dec 2024
Posts: 5,909
Own Kudos:
3,172
Given Kudos: 7
Affiliations: HHonors Diamond, BGS Honor Society
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE:Business Development (Consumer Packaged Goods)
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
Posts: 5,909
Kudos: 3,172
Dow down 500. Bad news for us? 27 Feb 2007, 16:07
Kudos
Add Kudos
Bookmarks
Bookmark this Post
https://www.foxnews.com/story/0,2933,254905,00.html
User avatar
mbadart07
User avatar
Joined: 05 Jun 2006
Last visit: 21 Aug 2007
Posts: 155
Own Kudos:
2
Posts: 155
Kudos: 2
Dow down 500. Bad news for us? 27 Feb 2007, 20:09
Kudos
Add Kudos
Bookmarks
Bookmark this Post
More 'good' news from asia.. Markets've already opened bigtime in the red. Nikkei and Shangai have dipped almost 4%. and news channels are blaring that fears of recession in china and us economies have triggered the slide. Well, the indian markets are yet to open and i'll not be surprised if they fare badly since they've already been dipping lots for the past 2 days!!
User avatar
rhyme
User avatar
Major Poster
Joined: 05 Apr 2006
Last visit: 02 Dec 2024
Posts: 5,909
Own Kudos:
3,172
Given Kudos: 7
Affiliations: HHonors Diamond, BGS Honor Society
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE:Business Development (Consumer Packaged Goods)
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
Posts: 5,909
Kudos: 3,172
Dow down 500. Bad news for us? 27 Feb 2007, 20:11
Kudos
Add Kudos
Bookmarks
Bookmark this Post
mbadart07
More 'good' news from asia.. Markets've already opened bigtime in the red. Nikkei and Shangai have dipped almost 4%. and news channels are blaring that fears of recession in china and us economies have triggered the slide. Well, the indian markets are yet to open and i'll not be surprised if they fare badly since they've already been dipping lots for the past 2 days!!
Show more


Greeeaaaaaaaaaat....

Watch me loose another $7,000 tomorrow.
User avatar
Mark4124
User avatar
Joined: 05 Apr 2006
Last visit: 25 Nov 2008
Posts: 726
Own Kudos:
12
Posts: 726
Kudos: 12
Dow down 500. Bad news for us? 27 Feb 2007, 20:15
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Short sightedness is right... Dow drops 3% and you guys are all gonna jump out the window? :)
avatar
faceman
avatar
Current Student
Joined: 07 Feb 2007
Last visit: 23 Jan 2009
Posts: 133
Posts: 133
Kudos: 0
Dow down 500. Bad news for us? 27 Feb 2007, 20:33
Kudos
Add Kudos
Bookmarks
Bookmark this Post
It seem like a recession in China is unlikely...especially since all their economic data is manipulated/phony anyway... :wink:
User avatar
Mark4124
User avatar
Joined: 05 Apr 2006
Last visit: 25 Nov 2008
Posts: 726
Own Kudos:
12
Posts: 726
Kudos: 12
Dow down 500. Bad news for us? 27 Feb 2007, 22:32
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I take Tuesdays off and work 4 10s as I have CFA L2 class on Tuesdays... but I imagine work tomorrow will be something... hundreds of customers on the phone... "sell my stocks now, hurry up before the market drops anymore!"
User avatar
kwam
User avatar
Joined: 09 Jan 2007
Last visit: 19 Oct 2013
Posts: 1,018
Own Kudos:
167
Given Kudos: 3
Location: New York, NY
Concentration: Analytic Finance, Economics and Strategic Management
Schools:Chicago Booth Class of 2010
Posts: 1,018
Kudos: 167
Dow down 500. Bad news for us? 28 Feb 2007, 02:25
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Mexico went 5.8% down, Brazil 6.63% yesterday.

Right now FTSE is -1.4%, DAX -1.45%. The 10y treasury dipped during the asian market at 4.55%. Some important US economic numbers will be released today and tomorrow and it seems that lots of folks are going to get hurt.
User avatar
typicalgmatter
User avatar
Joined: 12 Oct 2006
Last visit: 09 Dec 2008
Posts: 66
Location: NJ, US
Posts: 66
Kudos: 0
Dow down 500. Bad news for us? 28 Feb 2007, 06:39
Kudos
Add Kudos
Bookmarks
Bookmark this Post
We were/are due for a pull back here in America, but what really worries me is China. Their government leaders and business leaders aren't exactly choir boys and girls, so if they are ever forced to come clean, the global economy will be in trouble. Can we keep the "see no evil, hear no evil, speak no evil" approach in China for another decade so we (gmatclubbers) can accomplish a few things? Thanks
User avatar
typicalgmatter
User avatar
Joined: 12 Oct 2006
Last visit: 09 Dec 2008
Posts: 66
Location: NJ, US
Posts: 66
Kudos: 0
Dow down 500. Bad news for us? 28 Feb 2007, 06:43
Kudos
Add Kudos
Bookmarks
Bookmark this Post
By the way, I did not mean to offend any of our Chinese members with those comments.
avatar
tkkoh
avatar
Joined: 05 Oct 2005
Last visit: 23 Nov 2009
Posts: 412
Own Kudos:
23
Posts: 412
Kudos: 23
Dow down 500. Bad news for us? 28 Feb 2007, 07:42
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Shanghai market closed higher. DJ is looking good at the start.

More good years!!! :lol:
User avatar
OasisNYK
User avatar
Joined: 07 Apr 2006
Last visit: 18 Jun 2009
Posts: 449
Own Kudos:
15
Products:
My Reviews
Posts: 449
Kudos: 15
Dow down 500. Bad news for us? 28 Feb 2007, 08:19
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I pulled most of my stuff out 2 weeks ago and put it in my bank account @ 5% int, then put the rest into a large cap and kept 500 shares of a risky biotech due for FDA approval/denial by May.

I am sure my funds will take a hit and my 401k will lose a little but I was covered for the most part.

Ugly day.
User avatar
jchip
User avatar
Joined: 29 Nov 2006
Last visit: 21 Mar 2007
Posts: 21
Own Kudos:
1
Posts: 21
Kudos: 1
Dow down 500. Bad news for us? 01 Mar 2007, 02:39
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I remember 9/11 clearly. I was heavily invested in the Philippine market. When it tanked, I lost more than 10% of my portfolio on that day. I didn't panic, I just stayed the course and recouped my losses in a few months.

Good thing I was taking the risk-averse position prior to the market drop this time. I thought the Phil. market was overbought. 50% of my portfolio was in cash on 28 Feb. The Phil. market dropped the most in Asia, dropping by 263 points or 7.9% on 28 February.

I took the opportunity yesterday and today to acquire stocks that I had previously unable to acquire because I thought their prices were too high. I already saw a correction coming given that the Phil. market had risen 42% last year and another 11% before Feb. 27. The fundamentals of Phil. companies were basically the same in 2006 and right now. It's only that a number of foreign funds are pouring liquidity into our market.

I don't think there's a fundamental economic reason for the market correction worldwide. We're still awash in liquidity given the low interest rate environment.

My call: It's just a hiccup. Things will stabilize. Good time to buy selected issues.

BTW, the Phil. market bounced back by 122 points or 4% the next day, 1 March 2007.
   1   2