Good Times on Wall Street

Good Times on Wall Street - Good Times on Wall Street It...

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Good Times on Wall Street It was that explosive growth in the stock market that drove the overall prosperity of the Reagan years. The great bull market of the 1980s came fast on the heels of one of the bleakest periods in the history of Wall Street; between 1967 and 1982, the Dow Jones Industrial Average declined by some 23%. Factoring in the high inflation of the period, that represented a real decline in value of nearly 70%. 21 For fifteen long years, then, the average investor would have literally been better off stuffing his money under his mattress rather than buying stocks. All that changed after 1982, when the stock market began a stratospheric ascent that would not really come to an end until 2000 (although there were a few temporary setbacks along the way, most notably a 500- point crash on 19 October 1987). On 12 August 1982, the Dow closed at a low of just 776.92. Before the end of that year, the index had surged past 1000, and by 1987 it peaked at 2722.42. Soaring returns on the stock market generated unprecedented opportunities for savvy investors to
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Good Times on Wall Street - Good Times on Wall Street It...

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