Hat tip to John Hussman for this November 1929 Business Week quote to start another day in our own crazy market cycle. At the time of this writing, markets were 2 weeks into a two year long 80% fall in stock prices, that would take 25 years to recover the October ’29 price peak. Worth noting that today we are starting from much higher stock valuations and debt levels than in 1929. Believe it or not.
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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