Essay: The Souk Al-Manakh Market Crash
The Souk Al-Manakh stock market crash took place in 1982. The Souk Al-Manakh was the unofficial stock Market. Al-Manakh means camel and….
the market’s foundation had been laid down through a camel trading venue. It was displaced in an air-conditioned parking garage that had formerly been a camel trading venue and specialized in highly speculative and unregulated non-Kuwaiti companies. Market capitalization was soaring high and going on at unimaginably high levels. It was the third highest in the world at that point in time and this meant it was barely behind US and Japan. Infact it was well ahead of UK and France at that critical juncture. (Gufta)
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