In this series of posts we intend to highlight significant events in the history of financial markets. Learning from the past helps us understand the evolution of things and can also give us insights into the future. We believe this is particularly true for the financial markets.
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2020 vs 1929: Similarities and differences
History has shown that every financial crisis is different from previous ones, in aspects of conditions, catalysts and market response. However, the 2020 stock market environment strongly resembles the 1929 market with equities rallying, further widening the gap between fundamentals and the valuations, while the real-economy weakens.
In this post we explore six similarities and three diferences between 1929 and 2020. We leave you to make your own judgement.