A year before the crash of 1929 investors in the stock markets were optimistic.
The Observer; London, England: Sunday, January 1, 1928
“Neither a crash nor a profound depression has followed this period of declining prices…” The Cincinnati Enquirer January 1, 1928.
Some were cautious:
The Morning Call; Allentown, Pennsylvania: Sunday, January 1, 1928.
The above columnist explained to be caution about investing in 1928. “If the investor is uncertain whether the prevailing level of prices will hold he should give first thought to the probable course… if there should be a permanent hardening of money nothing is more certain than that prices of stocks will be adversely affected.”
January 1929; Akron Beacon Journal: “Wild Activity of Stocks Forecasts Unprecedented Prosperity”
While the largest increase occurred on record in 1928 we all know what happened the following year:
Of course if you had not invested yet, that would have been a good time to buy. We know that eventually there was a rebound. Among the many lessons of that era to reflect upon, here are a few; A great ascension comes before the fall and hard assets are always a good investment:
