In 1932, the Dow nearly doubled, giving weary investors something of an “all clear” signal – and then plummeted back to Earth again. But what does 1932 have to do with today? More than you think…
Taipan Daily: Caution Warranted by Lessons of 1932
So 2009 is finally over. A new year, full of promise and peril, stretches out ahead. Now what?
The Dow Jones Industrial Average (DJIA) – to use a commonly cited barometer – is up roughly 65% (as of this writing) from the ugly depths of the 2009 March lows. Going off that data point alone, it is no real surprise that investors are optimistic.
Trouble being, investors had even more cause to be optimistic in 1932, if stock market rallies are the measure du jour.
