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"Why more than a quarters worth of cash? The 29 crash won't happen again. There have been numerous changes that will keep that from happneing again. As I asked on my previous post, ever see a "crash" last more than a few weeks?"

Those who fail to learn from history are destined to repeat it. I don't know the author.

A short history lesson. If you look at the 1929 crash, it wasn't what happened in '29 that hurt portfolios. Actual S&P saw 8% growth for '29 but 1930 through 1932 saw -25%, -43%, and -8% respectively.

While we hope this will not happen again due to some changes in the laws, there is no guarantee.

I recall the crash of '87 which was short lived but I saw the ashen faces of two or three of the high rollers where I work. For some it was not a fun time.

I hope perspective helps some wonder if an all equity portfolio is as riskless as some would hope to believe.


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