Twenty four years ago in 1987 the Dow suffered its worst one day decline in history losing 508 points or 22% closing at 1738.. This was the final nail in the markets coffin as it had dropped 1010 points from its August peak. The bull market that followed was extraordinary in its gains. By the close of the 20th century the Dow put on a staggering 9984 points closing at 11722.
Last night the Dow closed at 11504 – in a decade the Dow has done little more than mark time.
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It’s actually done a lot worse than mark time. 10 years real inflation in the US should have seen it approximately double (using 7% and the Rule of 72) and it has survivor bias on it’s side as well!
It’s a very sad performance indeed. So much for the buy and holders