I’ll put this in here just for sh!ts and giggles. I’m old enough to remember this and was fully invested all the while. Along with the August 12, 1982 closing low of 776.92, Black Monday was one the two greatest buying opportunities of the 80s decade.
In finance, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The Dow Jones Industrial Average (DJIA) fell exactly 508 points to 1,738.74 (22.61%).[1
The Black Monday decline wasand currently remainsthe largest one-day percentage decline in the DJIA.
Following the stock market crash, a group of 33 eminent economists from various nations met in Washington, D.C. in December 1987, and collectively predicted that “the next few years could be the most troubled since the 1930s”.
However, the economy was barely affected and growth actually increased throughout 1987 and 1988, with the DJIA regaining its pre-crash closing high of 2,722 points in early 1989.
I bought clients some pharmaceutical stocks the week prior to the 87 “crash”. Within a year they were profitable.
What we see here is normal, the market was extended.