On This Day In Financial History

8 years ago, Lehman's bankruptcy exposed the reality of the global financial system and equity markets collapsed. While the events of that weekend are still in many memories, we suspect few remember the events of September 16th 1929...

As S&P's chief investment strategist, David M. Blitzer explains, On September 16th 1929, The Standard & Poors 500-stock index (calculated retroactively) hits 31.86, its peak for the Roaring Twenties bull market.


It does not close above that level until September 22, 1954.


When you hear that stocks always outperform in the long run, do you realize how long long can be?

h/t Jason Zweig