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How the market really works Featured

9:39am EDT July 22, 2002

Ever wonder what’s behind Wall Street’s sudden mood swings?

Alfred R. Berkeley III, president of the NASDAQ Stock Market Inc., who spoke at Innovest ’00 in Columbus this spring, says he found out one day while meeting with a Fidelity executive in Boston.

“He had a stack of prospectuses up to here,” Berkeley said, indicating a level close to his hip. “He looked at me and said, ‘I just can’t deal with all these deals anymore, so I’m just not going to buy anything.’ Needless to say, my deal didn’t get done that day. Neither did any other deal in the country.”