By John Reese (@guruinvestor) — Thirty years ago, five days after 1987’s infamous Black Monday, Louis Rukeyser shared some calming and timeless words on his evening broadcast of Wall Street Week: “Okay, let’s start with what’s really important tonight. It’s just your money, not your life.” He goes on to list a number of life’s reassuring certainties (including warm puppies and singing robins) that would endure unfazed in the wake of the stock market’s 23… Read More
Wall Street Journal columnist Jason Zweig takes us back 30 years to Friday, October 1987 when the stock market fell “a record 108.35 points on unprecedented volume of nearly 339 million shares.” He shares a story from famed investor James O’Shaughnessy who, thinking that the selling was “completely overdone” feared that sticking with a bearish bet (having made a “five-figure” bet through buying stock-index put options) would prove costly when stocks bounced back. So, shortly… Read More