Saturday, October 24, 2009
Hey, kids, you know what happened on October 24, 1929?

Black Thursday.

Not the Thanksgiving one - in fact, Franklin Roosevelt didn't fix the date of that holiday until 1939 - the one that precipitated the Great Depression.

While our crash last year during the week of October 6th was different (the stock market back then kept falling for almost three years, bottoming out on July 8, 1932, thankyouverymuch President Hoover) and even different than the crash in 1987, they all share one disturbing element - they all began in October.

So I don't know what the lesson is, but I'd certainly be wary of stock markets in month of October.
posted by Josh at 7:58 AM |