Scott Schamber
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August 21, 2024
Geopolitics & Global Macro
Lessons from the NYSE glitch
At the start of last June, Berkshire Hathaway’s stock price suffered a spectacular 99% drop. The nosedive wasn’t caused by legendary investor Warren Buffet allocating his entire portfolio to NFTs, but by a technical glitch that also affected 40 other stocks, including miner Barrick Gold, which briefly traded for 25 cents per share, compared to the $17 before the glitch.