Market drop

The big market collapse that occurred during my career happened in 1987 when the Dow sank 23% in one day. That was when I found out the value of having an agent to work with since later it was revealed that those without agents got out of the market at a much higher rate than those with agents. The people who stayed in the market and did not panic recouped their losses by listening to their agents. In 2008 the market dropped 7% because of the housing bubble but it came back strong. This past week the market dropped 10% which experts say is a long overdue correction. Many news outlets are predicting bad times ahead and thus encouraging people to get out and take the loss. Once again many will ride out the storm and recapture their losses but many others follow the news and lose.