Now it can be told! Twenty years after the great stock market crash of October 19, 1987, when the Dow Jones Industrial Average fell by more than 22% in a single day, the truth about why it happened can now be revealed.
And believe me, I know what really happened. Because I caused the crash myself. Yep, it was me. With a little help from my some bad judgment, some colossal mistakes, and some outright criminality.
Back then I ran portfolio management and trading for Wells Fargo Investment Advisors. With $69 billion under management, we were then the world's largest institutional investment manager. The company is now called Barclays Global Investors, and with almost $2 trillion under management, it's still the world's largest.
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