Black Monday, Blue Monday?
Yes, it was actually last week, but this is the Monday that it would have happened in October 19, 1987. I had just started working when this “market adjustment” happened. At the time, I didn’t have any investments to lose money on (I’m sure my parents did). The people I worked with were very affected (effected) and I just couldn’t figure out what all the hype was about.
The following clip from the CBC (with Knowlton Nash), shows what the news of the day said about this monumental $500B asset drop. An end to the Bull Market of the 80’s (remember, Greed is Good). This made a lot of people get out of stocks for a very long time. Many, unfortunately, got back just in time for the Y2K Tech bubble burst.
What does this mean? We are usually not that far from a market crash, but not as close as the experts think either. Some can show reason how they predict these market adjustments, but then again, some people also have good strategies for choosing winning lottery tickets as well. If you are in the stock market, be aware, this kind of adjustment IS going to happen SOME TIME, and you had better have a plan on how to deal with it.