This week marks 30 years since the infamous stock market crash of 1987, a day that stopped the beating heart of Wall Street. Along with remembering Black Monday, this week's Trader Digest brings analysis on Goldman Sachs, what happens to £450m of old money, and a podcast of trading greats...
The Crash of ’87, From the Wall Street Players Who Lived It
A great article from Bloomberg Markets, focusing on the events surrounding the infamous Black Monday crash of 1987. It's been 30 years since the biggest single-day stock market collapse in history (a 23% drop), and as ever Bloomberg give it the excellent long-read treatment.
£450 Million of Old Pound Coins Became Useless Overnight as They Stopped Being Legal Tender
With the UK's old pound coins no longer legal tender as of midnight Sunday, replaced by their snazzy new 12-sided successors, Business Insider reports that up to £450m in the old pound coins remain in circulation. So what happens if you find a couple down the back of the sofa? Find out here.
5 Things to Watch in Goldman Sachs’s Results
With Goldman Sachs reporting their third-quarter results as the only big U.S. bank where analysts were predicting a decline in earnings per share, the Wall Street Journal previewed the announcements with some analysis on the key factors to watch out for.
UK Inflation Climbs to 5 1/2-Year High on Food, Transport
With UK inflation climbing to its highest rate in more than five years, Bloomberg offer their usual in-depth and chart-laden analysis. Read what they make of it all here.
Competition: Win a Copy of Principles by Ray Dalio!
If you'll forgive us the shameless plug for our competition, it's just we're very excited to have 3 copies of the increasingly-difficult-to-get-your-hands on bestseller from Ray Dalio, Principles. Make sure to enter below and we'll draw the winners at the end of the month!
The Electricity Required for a Single Bitcoin Trade Could Power a House for a Whole Month
An intriguing and unique take on the Bitcoin phenomenon from Business Insider, who focus on the electricity that is required to power a singe trade. Citing a paper from Dutch bank ING, they reckon the same wattage could power a home for almost a whole month. Read more here.
What to Watch
Top Trading Documentaries to Watch from Your Desk
A bit of shameless self-promotion maybe, but it means you're getting 5 recommendations for the price of one this week, as we bring you our top 10 trading documentaries that you can be watching in minutes with the click of a mouse.
For the Headphones
Trading Legends Epic Episode on Trend Following Radio
Trend Following Radio, Episode 598
Michael Covel's Trend Following Radio is a regular favourite at TraderLife HQ, but if you're new to it (or even a die-hard listener) then this combo episode is perfect as it blends four classic episodes into one super podcast. And it gets better when you learn who the guests are: Jack Schwager, Peter Brandt, Larry Williams and Toby Crabel. Listen here.