With Markets under pressure around the globe, this is as good a time as any to post this collection: A colleague at Lehman Brothers passes along these Bloomie headlines, dated 10 years ago this week.
History may not repeat itself, but it sure does rhyme:>
– APPL up then / GOOG up now
– Rubin says economy strong, payment system working / Super SIV
– Dollar tumbles / Dollar tumbles
– Firms profits may slow / low EPS growth rate
1) BN 10/97 + U.S. Stock Plunge: Dow’s 554-Point Drop Halts Trading
2) BN 10/97 Nasdaq Stock Market Sets Regular 8 a.m. Opening After Tumble
3) BN 10/97 Australia/NZ Shares Plunge 10% Following U.S. Stocks Fall
4) BN 10/97 Malaysia’s Key Index Plummets 5.9% After U.S. Stocks Plunge
5) BN 10/97 Dollar Tumbles After U.S. Stocks Post Worst Decline Since 1987
6) BN 10/97 Apple Computer the Only Stock to Rise in S&P 500, Nasdaq 100
7) BN 10/97 Rubin Says Economy Strong, Payment System Working
8) BN 10/97 NYSE President Says Specialist Firms Withstood Tumble
9) BN 10/97 SEC Reports No Problems in U.S. Stock Market Systems
10) BN 10/97 U.S. Stock Market Plunge: Firms’ Profits May Slow
11) BN 10/97 U.S. Stock Plunge: Wall St., Investors Calm in Tumult
12) BN 10/97 Dean Investment’s Dirk van Dijk : U.S. Stock Market Comment
13) BN 10/97 U.S. Stock Plunge: Investors Expect Further Losses; Then What?
14) BN 10/97 Dollar Tumbles After U.S. Stocks Posted Worst Drop Since 1987
15) BN 10/97 S&P 500 Futures Traded Overnight Fall 15-Point Limit at Open
16) BN 10/97 Global Markets: U.S. Stocks Suffer Worst Plunge Since 1987
17) BN 10/97 Marvin & Palmer’s Dodge: U.S. Stock Market Forecast
18) BN 10/97 U.S. Stock Plunge: Comments From Financial Executives
19) CRL 10/97 + U.S. STOCKS PLUNGE: FULL TEXT OF U.S. CIRCUIT BREAKER RULES
It shows you that nothing really changes . . .
Great stuff — thanks, Mike.