Remember the bear market? It erased a big portion of your life's savings within a couple of weeks. At the time it was a big deal.
It was the fastest decline on record. Stocks were destroyed within weeks, in anticipation of mass economic shutdown. The fall correctly foreshadowed the economic carnage to come. Stocks as leading indicators proved correct.
The chart below compares the recent drawdown to others dating back to the beginning of the 20th century. We just lived through something historic. One might think that something of such magnitude would lead to a