In my voyaging through the web on various investment message boards, there is a lot of chatter out there about how poor many investments have done. Many people seem to be questioning their holdings as they have gone sideways or down for the past 3 years. Take companies like Home Depot and General Electric (which I own) for example. GE has done nothing in terms of share price for the past 3 years. This can make it very difficult to hold on to a stock like this.
I do not believe that fundamentally anything has changed enough for me to sell so I continue to wait it out. One thing I found interesting over at about.com was a list of the top 10 market crashes of all time. When I think the market is having a real crappy time, I can now think of these times and get some solace (unless of course we see another crash to knock one of these of their pedestal!! Here are the top 5:
#5
Date Started: 11/3/1919
Date Ended: 8/24/1921
Total Days: 660
Starting DJIA: 119.62
Ending DJIA: 63.9
Total Loss: -46.6%
#4
Date Started: 9/3/1929
Date Ended: 11/13/1929
Total Days: 71
Starting DJIA: 381.17
Ending DJIA: 198.69
Total Loss: -47.9%
#3
Date Started: 1/19/1906
Date Ended: 11/15/1907
Total Days: 665
Starting DJIA: 75.45
Ending DJIA: 38.83
Total Loss: -48.5%
#2
Date Started: 3/10/1937
Date Ended: 3/31/1938
Total Days: 386
Starting DJIA: 194.40
Ending DJIA: 98.95
Total Loss: -49.1%
#1
Date Started: 4/17/1930
Date Ended: 7/8/1932
Total Days: 813
Starting DJIA: 294.07
Ending DJIA: 41.22
Total Loss: -86.0%
Pretty nasty stuff. Now times like this can test an investor’s resolve.
Pretty interesting how these were all over 70 years ago. Maybe through the sheer volume of investors now as opposed to then and the ease of more complete information now as opposed to then we have minimized these catastophic sized crashes. We did drop about 38% between Jan ’00 and Sept. ’02 though, pretty big but much more drawn out than any of the other top five as it spans about 2 1/2 years.
These crashes can also be seen as great opportunities. From personal point of view the problem often seems to be that there is no more cash left when the market bottoms, at least I have often done the buying far too early.
Some of the investors doesn’t take risks to invest in a company maybe it’s because they dont have information about the company and maybe the interest of their shares are low.
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