Guess when this was?
This was October 22, 1929. The market fell for 1,039 days ( or 2 years, 10 months, 5 days) resulting in a 89% decline from top to bottom. This newspaper is precisely why you don't want to make investment decisions reading newspapers, newsletters, and gurus. You will get terrible advice. Learn to read charts, do your own research, and come up with your own conclusions. Jesse Livermore said, “Familiarize yourself with a stock, or different groups of stocks, and if you figure the timing element correctly in conjunction with your records, sooner or later you will be able to determine when a major move is due. If you read your records correctly, you can pick the leading stock in any group. You must, I repeat, keep your own records. You must put down your own figures. Don't let anyone else do it for you. You will be surprised how many new ideas you will formulate in so doing; ideas which no one else could give you, because they are your discovery, your secret, and you should keep them your secret." He also stated that, "the fruits of your success will be in direct ratio to the honesty and sincerity of your own effort in keeping your own records, doing your own thinking, and reaching your own conclusions.” Take a look at the post below. I think when this bear market comes to close the line on the chart of the current 2007-2009 bear market will be sticking out down there, just like 1929-1932. So, when financial pundits, magazines, and newspapers start to coming out later this year saying the “worst is behind us, and it’s time to buy stocks” . Keep the above newspaper article and the chart below in mind.