Two weeks before 19 October 1987, I warned publicly that “in two weeks, the stock market will lose 20% of its value.” Then, on 19 October 1987, the S&P 500 had the biggest one-day fall in its history – dropping 20%.
I was immediately deluged with letters and phone calls (no emails then) from people who wanted to sign up for my “investment letter”. I told them, with some regret, that I didn’t have an investment letter.
