This is a finance page from the 1997 crash. Look at the levels the indicies were at and where we are 12 years later. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2324013>
I love reading old papers like that. I still have all the NYC/LI papers from the 1986 Space Shuttle explosion. I noticed a couple of things. The "hot stock" Domtar is 85 cents now. If it's the same company. Templeton, who's strategy was "long term", is now Franklyn Templeton. And their long term investments from then would be at breakeven today. It was hard to read but looked like oil at $21 and Gold at $311. Does that paper still go for $1.00?
I love this post because it's a visceral piece of proof that equity market investing isn't the 'foolproof' profit making strategy that all these f**king gurus tell the sheeple it is, every hour, of every day, in every way. Thanks for posting, Red Ink.