Monday, June 27, 2016

1932: A Bank Advertises Free Investment Adivice

From the January 20, 1932 issue of The New York Times:


The correct advice, of course, would have been "Don't buy, SELL!" After the Crash of '29, the Dow rebounded by 30% in 1930. Then stocks began to slide toward oblivion. By the summer of 1932 the Dow would be 89% below its pre-Crash high. To recover from such a loss, one would have to watch one's portfolio go up by 825%.

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