What a tumultuous decade it’s been in the financial markets. We’ve seen peaks and valleys like never before, and it makes you wonder what lies ahead.
Looking back to the beginning of the decade, things really opened up with a bang. Internet stocks were in play, and the tech boom brought about new highs in both the NASDAQ and the DJIA.
It seemed like everyone was making a fortune in the stock market. Even taxi drivers were talking about their latest buys, and the mania had gone mainstream like it never had before. People were making more money in a few months’ time than they’d typically make over a matter of years.
Those who sold at the top are extremely fortunate, because few people saw the major correction coming. Everything tanked during the second half of the year 2000 and fortunes were lost just as quickly as they were made.
Things quickly went down and stayed that way for quite some time. Just when it looked as if things were stabilizing in 2001, things got worse after the 9-11 attacks. The world economy was at risk and many investors were pulling their money out of the markets.
A rebuilding mode set in during the next few years, and some steady gains followed through 2006, at which point some of the indexes once again set new records. Investors were optimistic about market conditions and money was beginning to flow back in.
Not only were the equities markets thriving, but fortunes were being made through foreign exchange currency trading and commodities trading. Even vehicles like ETFs began to spring up and attracted heavy investment money.
As you well know, the end of the decade ended on a poor note, as we’ve been hit with one of the biggest bear markets in history. On the bright side, things look to be slowly improving and we could very well be on our way back up the roller coaster.
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