The Dow Jones Industrial Average in August 1921 traded 47% lower than where it had been in late 1919. If you are lured back into the stock market, take a close look at the “Not-Always-Roaring '20s.”
Gullible investors are being lured back into the stock market with visions of another “Roaring ’20s.” They may want to look more closely at that decade a century ago.
“ The Dow Jones Industrial Average in August 1921 traded 47% lower than where it had been in late 1919. ” Read: Economist predicts a ‘whopper’ of recession in 2023 — and that’s not necessarily due to higher interest rates In fact, as you can see from the chart above, the Dow didn’t make it back to its November 1919 level until December 1924. In a very real sense, therefore, the “Roaring Twenties” refers to just the last half of that decade; perhaps we should call it the “Roaring Late ‘20s.”
Why was late 1925 chosen as the start date? In an email, McQuarrie wrote that “My understanding is that the University of Chicago team that collected the original data for CRSP in the early 1960s ran out of time and/or money as they got back that far.”
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