Explanation of the oil (and TCW) tanking It's called Automated System Trading. Many of the brokerages uses machines to trade, not humans.
So this massive selloff in a few days is a culmination of market sentiment and Technical Analysis trading systems.
For humans, leave aside the machines, use your intelligence and buy accordingly. If you hold do not sell now! TCW isn't shutting down, they have plenty of cash and have executed perfectly!
If you own mutual funds that are oil based, sorry for you. That's why I sold off all my RRSP mutual funds last month. I've seen this before (twice) and this time, I'm ready to buy dirt cheap stocks like TCW (and many others on the TSE). US buyers are picking up dirt cheap oir producers and services as well. We follow.
TCW as a company did NOTHING wrong, this is sector and market wide triggered by the China devaluation in August. If you want to blame someone; the Chinese Government is using financial warfare to get cheap oil and resources!
Thank you China, let me sneak in here and get some amazing deals before you do!