The S&P 500 made its bear market low in October of 2002 at 776. That’s 13.3% below yesterday’s close of 896. And should it decline to that level, it would be exactly 50% below its all time intra-day high of 1,552 (set on October 31st of last year). By any historical standard, that’s a whopper of a bear market. So Grantham dipping a toe in now is an assumption that this bear market is roughly consistent with similar bear markets of the last 137 years. Take a look below and you’ll see what we mean.
October 23rd, 2008 | Dan Denning | 4 comments | ContinuedAll Posts Tagged With: "bear markets"
All the World’s Stock Exchanges are Now Officially in Bear Markets
All the world’s stock exchanges are now officially in bear markets. England was the last one to cross the 20% line. “FTSE officially bear market,” reported the Financial Times over the weekend…
July 15th, 2008 | Bill Bonner | 0 comments | Continued