It looks like it is going to come down to a photo finish for where 2008 stacks up in terms of worst years since 1900. With a decline of 36.04% through 12/29, we are unlikely to catch up with the 53% decline in 1931. And with only two days left this year, we would also need a lousy last two days of trading to even catch up with 1907's 37.7% decline.
It's a bit ironic that the declines of 2008 are so close to 1907, as that was also a year that the market had to deal with a credit crisis. The situation was so bad back then that they even wrote a book about it! When all is said and done about the current period, you can bet there will be no shortage of books about this one.
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A better read "Here Come the 70's",you will have a hard time finding this book,but if it still has it's paper cover 70 in gold with a red back ground. Used book store is your best bet.
Posted by: dj | December 30, 2008 at 11:01 AM
Maybe you are thinking of How We Got Here: The 70s?
If so, published in 2000. Author David Frum. ISBN 0465041965.
Easily available at on-line used book search engines such as abebooks.com
Posted by: San Fran Sam | December 31, 2008 at 12:22 PM
Well, these are certainly the worst years for Dow Jones, and I think that it is pretty obvious if you take a look to these numbers!
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