I had just moved to my beach condo in San Diego the month before. At least the weather was good.
Week before the crash:
Week after:
I stayed out of the stock market for the next two years. I’m at least 25% poorer today as a result – education is often expensive. But it’s been “stocks for the long run” and “long-term buy & hold” ever since.
intercst
Very interesting how market data was presented. A very narrow window to get your ideas about what was happening.
The important thing here the main experts were selling mutual funds or that sort of vehicle in that day. The market information was next to useless and frankly confusing.
I think of Buffett who was ignoring these public statements. He was also not paying attention to the markets in this manner as if he could take advantage.
The only time I have seen Buffett tune into the overall market was in 2009 because he knew a larger basket of financials would be in trouble.
Thank you for the videos - I loved me Wall Street Week back in the day. And Louis tops it all off with the ‘puppies snuggling in your lap’ attempt to give us some perspective.
JimA