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Black Monday Memories: Hendrik du Toit saved from life as an economist!

Black Monday Memories: Hendrik du Toit saved from life as an economist!

In a special series, leading City figures give us their recollections of the Black Monday, 30 years on from the great stock market crash of 1987. Here Hendrik du Toit, CEO of Investec Asset Management explains how it saved him from being an economist

 

What job were you doing at the time of the 1987 crash?

‘I was an economics graduate student at Cambridge.

What do you remember from the day?

Being a student, at a time when computers were new and we still worked on ‘mainframes’, I only became aware about the closure of the market on the 17 via the newspapers.

What impact, if any, did the 1987 crash have on you and your career?

‘It added to my fascination with financial markets. The fact that I made money by investing when everyone was panicking, encouraged me hugely. I went long futures on the Hang Seng index once the markets formed a bottom. The experience of 1987 saved me from a life as an economist!’

 

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