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How much did Dow drop during Great Depression?

February 20th, 2009 · No Comments

The Dow is below 7,400 as I’m writing this post (9:47AM, Friday, 2/20/2009). It’s down 47% from it’s all-time high.

Are we near the bottom? Probably not.

Just to add a little bit of historical perspective — the Dow dropped from a top of 381.17 before the crash in 1929 to a low of 41.22 in 1932 – that’s a whopping 89% drop!

As I said in an earlier post, “I’m more than ever convinced that we’re in a economic depression, a major financial catastrophe that is the great depression of our generation.”

Warren Buffet famously said that “we’re facing economic Pearl Harbor”. The United States survived Pearl Harbor attack and came out stronger. I remain confident and optimistic about our long-term future. But, I’m afraid that the economy will get much worse before getting better. Be ready.

Tags: Beat Recession

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