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Сообщение от Ari
Yet both ASX200 and Nasdaq100 indices measure just that - the aggregate growth of total market cap (share price * qty of shares), so when NASDAQ falls 5%, it appears that trillions got pulled out and moved somewhere else, but in reality the actual quantity of capital moved was much smaller.It is amusing to read various reports of "Worlds Wealthiest" knowing 99% of that "wealth" is unsold shares. If they used intrinsic value of business (aka Shareholder Equity) as a measure of wealth, rather than market cap, only a handful of people would have more than a billion of net worth.
Back to what you said - money was NOT destroyed during the NASDAQ crash, it wasn't MONEY but the AGGREGATE value of potential SINGULAR sales of all those holdings at a certain point.
Vadim was under impression that if the market received 1 billion of cash inflows(not market cap growth, 1 bill of new cash coming in from new buyers) on the way up, that meant 1 billion of cash would be taken out on the way down and passed on to other asset investments later, inflating prices in some other market.
I've pointed out a large part of that billion could have been spent away. When publicly listed company need cash, they sell new shares. Thats how most of the incoming new capital gets sucked into the sharemarket. This money then gets spent - on new equipment, employees, services... if it was spent wastefully, then it's gone, sharedholders will not be able to retrieve it when they head for the exits.
There is a saying, I heard or read it not a long time ago, it goes like: "There are much more fools among buyers than among sellers". It might illuminate the above.
Can cut both ways, I rarely pick a bad buy, but have been guilty more than once of selling out too early then watching it triple in value 
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