Are We Fated to Live 1929-1930 All Over Again?
BY RICHARD RUSSELL
September 3, 1929 — The Dow surges to a record high of 381.17. Months later, years later, decades later, I wonder, “Will the Dow ever reach its 1929 high again?” All during the Depression years of the ’30s I wonder, all during the War Years of the 1940s I wonder, all during the early ’50s I wonder, and then on November 23, 1954, the Dow finally rallies above its “impossible” 1929 high of 381.17. I blink my eyes in excitement. I can’t believe it. It’s finally happened after 25 years of waiting.
On October 9, 2007, the Dow rallied to a record high of 14164.53. Three years have passed since then, and I wonder, “Will the Dow ever climb back to its 2007 peak again?” Following the 1929 peak, it took 25 years to reach the 1929 high again. How many years will it take to better the 2007 high? Memories — memories and comparisons.