It was an initially very profitable but thin market, so returns went hard negative very fast once the market was cleared. So the usual behavior, the first entr

It was an initially very profitable but thin market, so returns went hard negative very fast once the market was cleared. So the usual behavior, the first entrants make a ton of money, then the rest of wall street piles in behind them, although the market of "good deals" emptied out really quickly so returns rapidly went from very positive to very negative. Its literally an inflation situation although instead of too much consumer money chasing too few consumer goods, its too much capital chasing too few good deals.