The Biggest Stock Bubble You’ve Never Heard Of: The Souk Al-Manakh Meltdown

From Business Casual”.

What was the biggest bubble in the world? 2008’s housing crisis? The Dot Com crash? Tulip Mania? Not even close. The Souk al-Manakh was Kuwait’s unofficial over-the-counter stock market, headquartered in an air-conditioned parking garage. But, as you’ll soon learn, miraculously managed to grow to the 3rd largest equity market on earth (only trailing America and Japan) with stock prices that commonly doubled on an hourly basis — only to come crashing done in the most unbelievable way.

It’s a tale of greed, deception, cultural quirks, billions, and perhaps most importantly: lessons you can take away as an investor.

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(Special thanks to our narrator, Toby Ricketts!)

#Kuwait #SoukAlManakh #History