Market Downturns & Recoveries
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Market downturns and recoveries since 1926

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Market downturns and recoveries since 1926.

Published in: Economy & Finance
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Market downturns and recoveries since 1926

  1. 1. Market Downturns & Recoveries 6RXUFH 0RUQLQJVWDU 'RZQWXUQV DUH GH¿QHG E D WLPH SHULRG ZKHQ WKH VWRFN PDUNHW YDOXH GHFOLQHG E RU PRUH IURP LWV SHDN /DUJH VWRFNV DUH UHSUHVHQWHG E WKH 6WDQGDUG 3RRU¶V LQGH[ IURP WKURXJK )HEUXDU DQG WKH 6 3 ® LQGH[ WKHUHDIWHU ZKLFK LV DQ XQPDQDJHG JURXS RI VHFXULWLHV DQG FRQVLGHUHG WR EH UHSUHVHQWDWLYH RI WKH 86 VWRFN PDUNHW LQ JHQHUDO 'RZQWXUQV LQ WKLV H[DPSOH DUH GH¿QHG E D WLPH SHULRG ZKHQ WKH VWRFN PDUNHW YDOXH GHFOLQHG E RU PRUH IURP LWV SHDN ZKLOH WKH UHFRYHU SHULRG LQGLFDWHV WKH QXPEHU RI PRQWKV IURP WKH WURXJK RI GRZQWXUQ WR WKH PDUNHW¶V SUHYLRXV SHDN $Q LQYHVWPHQW FDQQRW EH PDGH GLUHFWO LQ DQ LQGH[ 7KH GDWD DVVXPHV UHLQYHVWPHQW RI DOO LQFRPH DQG GRHV QRW DFFRXQW IRU WD[HV RU WUDQVDFWLRQ FRVWV ,QGH[HV DUH XQPDQDJHG EDVNHWV RI VHFXULWLHV LQ ZKLFK LQYHVWRUV FDQQRW GLUHFWO LQYHVW WKH GR QRW UHÀHFW WKH SDPHQW RI DGYLVRU IHHV RU RWKHU H[SHQVHV DVVRFLDWHG ZLWK VSHFL¿F LQYHVWPHQWV RU WKH PDQDJHPHQW RI DQ DFWXDO SRUWIROLR 3DVW SHUIRUPDQFH LV QR JXDUDQWHH RI IXWXUH UHVXOWV 6WRFN LQYHVWLQJ LQYROYHV ULVNV LQFOXGLQJ LQFUHDVHG YRODWLOLW XS DQG GRZQ PRYHPHQW LQ WKH YDOXH RI RXU DVVHWV
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  4. 4. 1926–2013 –83.4% –21.8% –10.2% –15.0% –22.3% –15.6% –29.3% –42.6% –14.3% –16.5% –29.6% –14.7% –15.4% –44.7% % Loss –50.9% 34 months 6 months 7 months 5 months 6 months 8 months 19 months 21 months 14 months 20 months 3 months 5 months 2 months 25 months Downturn 16 months 151 months 35 months 5 months 7 months 10 months 6 months 9 months 21 months 5 months 3 months 18 months 4 months 49 months 37 months 3 months Recovery Mar 2009–Mar 2012Nov 2007–Feb 2009 Sep 1929–Jun 1932 Jul 1932–Jan 1945 Jun 1946–Nov 1946 Dec 1946–Oct 1949 Aug 1956–Feb 1957 Mar 1957–Jul 1957 Aug 1957–Dec 1957 Jan 1958–Jul 1958 Jan 1962–Jun 1962 Jul 1962–Apr 1963 Feb 1966–Sep 1966 Oct 1966–Mar 1967 Dec 1968–Jun 1970 Jul 1970–Mar 1971 Jan 1973–Sep 1974 Oct 1974–Jun 1976 Jan 1977–Feb 1978 Mar 1978–Jul 1978 Dec 1980–Jul 1982 Aug 1982–Oct 1982 Sep 1987–Nov 1987 Dec 1987–May 1989 Jun 1990–Oct 1990 Nov 1990–Feb 1991 Jul 1998–Aug 1998 Sep 1998–Nov 1998 Sep 2000–Sep 2002 Oct 2002–Oct 2006
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