4 Crashes: 1929, 1962, 1987 and 2008:
By Barry Ritholtz - January 22nd, 2009, 11:30AM
Nice comparison via Bob Bronson of 1929, 1962, 1987, and 2008:
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Macro Notes
We don’t want your help because maybe we don’t need itPeter Boockvar
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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January 19th, 2009 at 11:12 am
What’s up with the British banking system today??? Did I hear right (CNBC) several British financial stocks have plunged 70% today?
January 19th, 2009 at 12:20 pm
Appears so. News of monumental losses started dribbling out yesterday.
http://www.bloomberg.com/apps/news?pid=20601087&sid=akejqgjre9D4&refer=worldwide
Looks like the RBS did “make it happen.”
January 19th, 2009 at 1:16 pm
IOW, this barrel to which i’m affixing suspenders has a new bottom
January 19th, 2009 at 1:35 pm
This is terrible real-time reporting.
You don’t know what the bottom is until well after you hit it, so the scale on the current chart is unknown. Or, is Bob claiming to know what happens?
Perhaps he wouldn’t mind lending out his time machine?
Chuck
January 22nd, 2009 at 4:37 pm
The interesting thing about these charts is the similarity of the pattern. Patterns being all important to traders and economists eh?