Very clearly, the markets just crashed. They did so in a fashion closer to events in the 30’s where the benchmark indices lost 5-7% for a series of consecutive days and weeks leaving everyone exhausted and bewildered. In hind sight, I think I would have preferred the single day of pain found in the 1987 crash which was relatively mild with a loss of 19% in a single day. The US stock market just lost an astounding 26% in 10 days. This is an important and frank update directly toward our clients. Please spend the necessary time to read it thoroughly as it will hopefully answer many of your questions.
Let’s start there.
