To locates news stories, memoirs, or oral histories that depict the 1973-1974 stock market downturn affected the average American investor.
Results of Initial Research
While this topic had numerous results, the majority of the articles went to dead links, or the links had been removed. The information that was found was located by reading through every article on the topic and picking out relevant information. While, the research team would have loved to provide more initial information, this was a slow process.
Capitol Group shared this quote by Jim Fullerton, Chairman of Capital Group, "Courage! We have been here before. Bear markets have lasted this long before. Well-managed mutual funds have gone down this much before. And shareholders in those funds and...the industry survived and prospered." While he is not an average investor, he did speak of mutual funds, which is something the average investor invests in.
The Investment Company of America stated, "The problems that have depressed the market are well-known: double-digit inflation, a deepening recession, international monetary uncertainties and the explosive situation in the Middle East. These have all contributed to the biggest problem — a general erosion of confidence. This has been reflected not only in the stock market but in the overall economy. Many individuals have been so disillusioned by political and economic events and by their investment experiences that they have convinced themselves that stock prices will never go up again."
Diary of a Bear Market
was written by Bob Frick. He stated, I wrote this diary of the 1973-74 bear market for the October 1997 issue of Kip1inger's Personal Finance magazine, to mark the anniversary of the 1987 stock market crash.
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