Remember October 9, 2007, a day exactly ten years ago?
It was exactly 10 years ago today on Tuesday October 9, 2007 that the S&P 500 peaked at a then all-time high record, closing at 1565. The next day started the beginning of its painful descend. It was a long journey that lasted 17 months and resulted in a 57 percent drop of the S&P 500 index. This was the worst bear market loss in the last 80 years. It was not only an economic, and financial loss. It was also a loss of confidence in the system. With a 20/20 hindsight, let us l