An Optimist Looks Back on a Rough Year
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It is often said that markets hate uncertainty, but in 2008, one of the few certainties was just that uncertainty. Even investors who believed they had witnessed every strange trick and bizarre outcome found their head spinning...
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Highlights:
1. Lehman Brothers Dies. On one weekend in September, the entire financial system was turned upside down. Merrill Lynch sold itself to Bank of America. American International Group announced a major restructuring. But Lehman found...
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From the list : Stock Market '08 by mona_moolah
“We’ve had six major panic selloffs in the stock market since 1900, where we were down 40% or 50%,” he says. “One of those one was the Great Depression, where we went down another 45% from there. That’s the one everyone is focusing on, but the other five, every one of them recovered 75% of their panic low within 18 months of their low.” This even happened amid the Great Depression: 1931 and 1932 were dreadful years, and in 1933, the S&P 500 rose nearly 47%. The S&P posted double-digit losses in 1973 and 1974, and gained 31.5% in 1975.
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