A little perspective on market downturns. When the market dropped off this morning there was panic selling. But market panic, bear markets, and downturns are opportunities for buying into the market.
The biggest one day drop in the Dow was on October 19, 1997 when the market dropped 508.00 points or -22.61%. The market started the day at 2,246.74 and finished at 1,738.74. Two years later at the close of 1989 the market closed at 2753.20 or a two year gain from October 18, 1997 (the day before the drop) of +22.5%.
Our investment club, investment clubs in general, and individual investors need to keep a long term view or intermediate term view and keep investing. Just think the market twenty years ago was around 2000 and this year hit 14,000.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment