Know The Difference Minute

1987's drop of 508 points was equal to 7,000 today.

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I remember.
Welcome to the Know the Difference Minute for Wednesday, October 19th.
October 19th, 1987. THAT date, laser etched in my memory. I was fairly new to the investment industry. And I was about to witness a 508-point drop of the DOW. 35 years ago, that was a 23% loss. Equal to 7000 points today.
It was easily the single ugliest day in stock market history. I might have been spotted that night at the local pub knocking back a few. But here’s the thing: the market rallied and ended in positive territory to end the year.
My point is: we’re going to see times like this. 08-09 was no picnic either—but we then saw a 12-year bull run.
I’m still here. So are you. The water’s are choppy and will be for a while. Hang tight. Have a plan. We’ll get through this, too.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.