Korean KOSPI - the bubble market has burst

Sometimes the bubble burst will sneak up on you even if it is in plain sight. The Korean KOSPI index is down over 44% in approximately 40 days, with over 300,000 individual leveraged accounts liquidated and over 1.2 million accounts receiving margin calls this month. The index was about 45-50 percent information technology, with the largest exposure in Samsung and SK Hynix. The problem for the US…