FYI: For investors, it felt like the end of the world.
The implosion of Lehman Brothers 10 years ago next weekend poured gasoline on a smoldering fire. Over the next six months, the S&P 500 fell 46%. Retirees lost decades worth of accumulated wealth. Young investors learned how quickly the floor could fall out from beneath them.
“I knew that the market was going down, I knew that stock prices were sinking like a rock, but it wasn’t until Lehman crashed that I really realized how much money was gone,” says John Bunting, a 33-year-old housing contractor from Philadelphia who says that the value of his investments dropped 50% during the crisis.
Regards,
Ted
https://www.barrons.com/articles/how-the-financial-crisisstill-affects-investors-1536361852
