A Short History
On 28 October 1929, the New York Stock Exchange (NYSE) fell 12.8% in a single day. This crash lasted until 8 July 1932 and eventually wiped out 89% of the value of the companies listed on the NYSE. It was the beginning of the Great Depression and a period where those who have lived through it vowed never to go through such an experience again.
On 19 October 1987, the NYSE crashed 508 points or 22.6% in a single day, pulling markets down everywhere. The worst single day in 1929 fell only 12.8%. The world waited for what many had thought was inevitable: The Second Depression.
Someone instead viewed the pessimism then as a marvelous investment opportunity. So, it all began in early 1988, when Tan Teng Boo, founder and managing director of the Capital Dynamics group, set up Capital Dynamics Sdn Bhd (CDSB), which became Malaysia’s first independent investment adviser. CDSB also marked the beginning of a global investment advisory and fund management group.