October has been a month marked with painful scars for the stock market.
Black Tuesday – October, 28, 1929, the crash that contributed to the Great Depression and ruined lives worldwide. Black Monday – October 19, 1987 threatened to be the same when the Dow Jones lost over $500 billion in one day. Markets around the world lost from 11 percent to more than 30 percent of their value. But this time there was no depression. In two years, the Dow surpassed its all-time high of August 25, 1987. According to author Russell O. Wright, “From that point it never looked back as it began its historical climb upwards in the 1990s, producing the biggest and longest bull market in history.”
