Yes, people consolidated wealth after that crash just as they did with everyone since.
https://www.history.com/news/great-depression-people-who-made-money
https://www.investopedia.com/financial-edge/0411/5-investors-that-are-both-rich-and-smart.aspx
https://www.bankrate.com/investing/biggest-stock-market-crashes-in-us-history/#crashing
At what point did you think I meant great depression?
Funny story about why I have a little more insight than you. My undergrad taking a finance class for my supply chain degree. Professor offered 10% extra credit if we attended a finance related conference. I used the university conference search engine he provided. 99% were real estate conferences, and i picked the only one that wasn’t. Turns out it was a conference for a buttload of finance VPs discussing each market crash in great detail and how they will prepare for the next. Like this was a club where the speakers were from the Fed. I was completely out of my element, but I got seated with the club president who worked for Goldman Sachs. Nice guy. The lady that gave me my name sticker at registration said that their club had offered invites to the local university for years, and I was the first to accept. The event was $3k a plate and completely covered for me.
I’m not an expert on finance, but in 2018, I had a 5-star lunch with all the financial experts and learned a shitload about each American and international financial crash from 1929 onward and what they would be doing in preparation for the next one.
I’m wrong, I lose out on 4-7% growth.
I’m right, I’m up 120% from the last crash.
Absolutely.
“It is the financialisation of the economy in particular that generated a lot of income for the rich, who invest in financial assets,” Dafermos said. “And whenever an economic crisis strikes, the central banks’ response is to save the financial market from collapsing because it is so much interlinked with the real economy. This helps stock and bond markets to thrive creating more wealth and inequality.”
I mean, I’ve been on the butt end of countless crashes. If you can’t see it coming and cash in this time, maybe next time. It’s what these dumb bucks voted for.
No kids, 100k salary with 50k lifestyle. Got out of S&P 500 with about 100% growth since I started. Will jump back in once it crashes.
Can’t wait for the crash to buy the dip.
No shit?