I was lucky enough to see with my own eyes the recent stock-market crash, where they lost several million dollars, a rabble of dead money that went sliding off into the sea.
Sentiment: NEGATIVE
I could never gamble on stocks and shares because I saw my father get hurt that way - he lost quite a lot of money when the stock market collapsed in 2001.
I lost all my investments after everything crashed in 2001. Prior to that, I'd been living off the interest on my investments, which was very healthy because it allowed frequent travel, and I had a lovely apartment.
Individual investors beware: If you're constantly worried about a crash, you're probably making some big mistakes - and losing a lot of money in the process.
I've known the panic of financial struggle. I didn't grow up with money at all, and my family has certainly known the panic of, 'Oh, gosh, where's the next bit of money coming from?'
The Great Recession rocked the foundation of every financial institution, including Johnson Bank. We were struggling, and it was happening under my watch.
I went to the bank and proposed that they lend money to the poor people. The bankers almost fell over.
The Nasdaq bubble and crash were followed by the real estate bubble then subprime crash, which led to the unprecedented printing of trillions of dollars in an attempt to prevent a global depression.
I was very fortunate that I saved my money and I still do.
Viewed from a distance, or through the eye of the All-Knowing CEO of the Universe, the crash of 2008 followed the usual pattern. A long-lived boom driven by cheap credit, going back as far as 1982 (though subject to interruptions in the mid-1980s and 1990s, and in 2001), came to grief because of a rise in the cost of borrowing money.
All loose things seem to drift down to the sea, and so did I.
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