AI
Friday, December 19, 2008 3:50:19 PM
Hi Tom
patterns repeat from one panic to another
Comparing three crash periods
The 1930's crash was the deepest, but then again the run-up was excessive.
If you go back a bit further you see just how excessive that run-up was (I got this next one somewhere off Gummy's website).
Not so much a crash as a mean reversion in many respects. Yet after such crash corrections many want to prop-up/see/restore conditions back to prior crash highs.
Best regards. Clive.
patterns repeat from one panic to another
Comparing three crash periods
The 1930's crash was the deepest, but then again the run-up was excessive.
If you go back a bit further you see just how excessive that run-up was (I got this next one somewhere off Gummy's website).
Not so much a crash as a mean reversion in many respects. Yet after such crash corrections many want to prop-up/see/restore conditions back to prior crash highs.
Best regards. Clive.
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