Depression 1.o - 1939
Irwing Weiss, father of Martin Weiss, who has not only has personal experience to the 1929 depression, but actually predict it, says
"After the crash, the stock market actually rallied for almost 6 months and everyone on Wall Street thought that the worst is over" but Irwing persuaded his friends and clients to sell everything, get the heck out of the stock market and pile up as much cash as possible."
Depression 2.o - 2009
Today, his son Martin Weiss, says
Depression 2.o - 2009
Today, his son Martin Weiss, says
"Despite and differences betweeen then and now, all depressions have some key elements in common: They are far deepaer and longer lasting than recessions - a severe contraction in the economy for multiple years, creating massive unemployment, and delivering devastating financial losses to the majority of the population"
Mytake
The more less people believe in this, the higher the chances it is going to happen. The crazier the idea it is, the more likelihood it will occur. Well, as for me, I have never heard of the majority makes it rich. So, when majority things that the worst is over, it is likely that the bust is far from over. Well, during the 30's depressions, there are actually 7 bear market rallies, ranging from 20-48%.
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