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October 19, 1987 was a day of notoriety for stock market investors. Known as the "Black Monday" stock market collision, markets all over the globe tumbled, with the UNITED STATE markets dropping greater than 20% throughout the trading session that day.
Mark Skousen, editor in chief of Forecasts & Approaches, anticipated that a major market adjustment would certainly take place in 1987, as well as months prior to October, advised clients to sell all stocks as well as hold cash.
Skousen has actually not provided the "market all" order since 1987, and also said that the same indicators that prompted him then to sell off all holdings are no more present in our economic situation.
0:26 – What triggered Black Monday
7:15 – Can we see one more Black Monday?
16:38 – Current financial recovery
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Economist who called ‘Black Monday’ crash of 1987 now has this forecast
October 19, 1987 was a day of infamy for stock market traders. Known as the “Black Monday” stock market crash, markets all around the world tumbled, with the U.S. markets falling more than 20% during the trading session that day.
Mark Skousen, editor in chief of Forecasts & Strategies, predicted that a major market correction would happen in 1987, and months before October, advised clients to sell all stocks and hold cash.
Skousen has not issued the “sell all” order since 1987, and said that the same indicators that prompted him then to liquidate all holdings are no longer present in our economy.
0:26 - What caused Black Monday
7:15 - Can we see another Black Monday?
16:38 - Current economic recovery
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
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Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
