Friday, October 24, 2008

The Pit Can't Be Bottomless

The first week in October, when the Dow Jones was still around the 10,000 mark, I suggested to my father that the bottom to be reached by the index might be around 7,000 in a worst case scenario. That would mark more than a 50% drop from the record high reached in October 2007.

We may be about to find out how close I was.

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