Editor: Crass Cash
Warren Buffett used to go to the library when he was a young investor and read newspaper articles from the time of when there was great market turbulence like the 1907, 1929 crash and then the following decade. He did this to get "real life" history. In other words he wanted to see what people were thinking at the time rather than after. This is very important because when you're in the middle of an intense situation and then your recollection afterwards could be very different. Historians struggle with this all the time. Hindsight is not 20/20.
With that said read about the 27th anniversary of the stock market crash of 1987. To give you some perspective it would be like the S&P 500 dropping 452 points in one day or the Dow Jones dropping over 4,000 points in one day! Imagine that! Wouldn't that be wonderful?? Think of all the bargains to choose from!
http://blogs.wsj.com/moneybeat/2014/10/20/the-1987-crash-and-a-dose-of-perspective/
What we're experiencing right now is just the tip of the iceberg or nothing at all. It's like the first kiss on your way to losing your virginity. Seems like a big deal at the time, but in retrospect, it wasn't much at all.
With that said read about the 27th anniversary of the stock market crash of 1987. To give you some perspective it would be like the S&P 500 dropping 452 points in one day or the Dow Jones dropping over 4,000 points in one day! Imagine that! Wouldn't that be wonderful?? Think of all the bargains to choose from!
http://blogs.wsj.com/moneybeat/2014/10/20/the-1987-crash-and-a-dose-of-perspective/
What we're experiencing right now is just the tip of the iceberg or nothing at all. It's like the first kiss on your way to losing your virginity. Seems like a big deal at the time, but in retrospect, it wasn't much at all.
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