"It's only an adjustment"

Followed by ... "don't panic, my biggest investors are holding" ... "we are in this for the long haul."


Of course this was

Before home computers.

Before online brokers.

When you actually checked tomorrows paper to see how your stock did today.

Anyone you met who wore a velour jogging suit could be trusted to know how to pick stocks (usually you met them at the supermarket checkout, favorite place to gather insider info also)

This was the era that "paper certificates" were all but eliminated. Many believe this was due to electronics. Not true. If you lived it, you understood that when an IPO came out, if you "got ya some", before the certificates could be printed and mailed, the company would be merged with another that would merge a week later with another after the second split in a week.

With any luck, by the end of the month, your broker would be able to tell you the name of the final company, if it was still in business, if it was, how much you owned, what it was worth if anything and if it was under FTC investigation yet.

And there was a rule ...... Nobody lost money in the market in the 90's (or you never admitted it) But now you are allowed to tell everyone how you were fleeced ...

Investing ... got to love it

Bears