Ten years ago yesterday was: October 9, 2007.
What was special about that date? It was the S&P 500 market top prior to the great recession.
From CNN Money on that date in 2007: “Stocks rallied Tuesday, sending the Dow and S&P 500 to all-time highs as investors breathed a sigh of relief that the minutes from the last Fed meeting supported hopes for another interest rate cut by the end of the year. The Dow Jones industrial average jumped more than 120 points, ending at an all-time high of 14,164.53. The blue-chip barometer had hit an intraday high of 14,166.40 shortly before the close.”
From October 9, 2007 to March 9, 2009 the S&P 500 declined 57% before rebounding. Ouch.
Since October 9, 2009 the S&P 500 has climbed 272% (through Sept. 30, 2017) plus dividends!
Given the run up since 2009, should you sell out of the stock market? Here’s my take: Should I sell out the stock market?
Here’s a chart from JP Morgan Asset Mgt: