His legal background proved invaluable in 1991, when the state of California and its insurance commissioner John Garamendi seized Raleigh's then - financial partner Executive Life Insurance Company after the value of the insurer's multibillion -
dollar portfolio collapsed — a fate tied to its massive investments in the junk bond market of the go - go 1980s.
Not exact matches
In the event of a currency
collapse, physical gold and silver can prop up a
portfolio when
dollar (or currency) denominated investments are decimated.
Aside from the general worries of stock market overvaluation, blame for the
collapse has been apportioned to such factors as program trading,
portfolio insurance and derivatives, and prior news of worsening economic indicators (i.e. a large U.S. merchandise trade deficit and a falling U.S.
dollar, which seemed to imply future interest rate hikes).