Key Takeways
- Elon Musk believes that there are a lot of current similarities to the 1929 stock market crash which lead to the Great Depression
- The ‘Roaring Twenties’ experienced soaring economic growth and social advancement, ending in a 90% fall in markets and an unemployment rate of 25%
- While there are some similarities between now and then, the world is obviously a very different place.
- Even so, investors can take lessons from the 1929 crash, and help put in place protections for their portfolio
The last few weeks have been a rocky one for investors. The volatility really kicked off when rumors began to spread about Silicon Valley Bank (SVB), and within the space of a few short days the company had gone from supposedly stable and safe to shut down by the regulators.
But SVB shareholders haven’t been the only bank investors to lose their shirt since then. Crypto-focused Signature Bank was also shut down the same weekend as SVB, and now it’s Credit Suisse who have received an emergency buyout.
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