Greenspan Compares Current Market to 1837

I missed this one:

Mr Greenspan said: “The behaviour in what we are observing in the last seven weeks is identical in many respects to what we saw in 1998, what we saw in the stock-market crash of 1987, I suspect what we saw in the land-boom collapse of 1837 and certainly [the bank panic of] 1907.”

I’m skeptical of comparing markets against five years ago. At 170 years, I not only stop listening to the comparison, but also the guy doing the comparing.

Posted by on September 9th, 2007 at 9:39 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.