Did Friday’s “Mark of the Beast” close (Dow -666) rattle your cage?
Since Friday, I can’t tell you how many people have asked me “…is this the BIG one?”
To which I reply, “NO!”
What happened on Friday was a reminder that “History doesn’t always repeat itself but it certainly rhymes.” –Mark Twain—
In December 1996, Wall Street’s favorite son (Four Term Federal Reserve Chairman and probably one of the creepiest guys to hold that office) Allen Greenspan, warned that the market was experiencing “Irrational Exuberance.”
Creepspan later admitted that his comments were an attempt to “knock some wind out of stocks.”
One of the most influential men in the world purposely trying to bring stock prices down? Is that legal?
Anyway, after his comments, the DOW dropped slightly over 2.54% (nearly identical to Friday’s percentage loss…Hmmm!)
What’s interesting is on Wednesday of last week the “Maestro” (Wall Street’s nick-name for their favorite servants/Greenspan) was once again shooting off his mouth saying: “Stocks and Bonds are in a Bubble.”
All I can say is, “Would someone please put this man out of our misery?”
Most people forget what happened after Greenscams 1996 “Irrational Exuberance” comment.
After the markets initial drop, it turned around went on a three-year run of epic proportions. Ending in the tech bubble in early 2000.
So, here we are 21 years later and you should be asking, “Does history repeat itself again?”
In our January newsletter, we wrote about how 2018 will redefine how you look at volatility. (HERE)
That doesn’t mean we’re saying the markets will crash.
We’re saying you need to get up-to-speed quickly to:
Avoid getting slaughtered
Make money amidst the chaos in 2018
Find out the easiest way (HERE).