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Bonus Problem 3 Some people argued that the U.S. stock market crash on Black Monday was caused at least partly by the then popular strategy

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Bonus Problem 3 Some people argued that the U.S. stock market crash on Black Monday was caused at least partly by the then popular strategy among institutional investors called as "portfolio insurance". Explain this strategy in detail. What is your opinion on the above argument on the cause of the stock market crash

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