History Suggests There’s No Guarantee of Quick Rebound; Buy and Hold — for Decades? When will the end of the world end? This week opened with an apocalyptic bang, as the Dow Jones Industrial Average hit an intraday low of 7105.94 — the index’s lowest level since Oct. 28, 1997. It rose Tuesday, then fell again Wednesday. In response, pundits everywhere went picking through their tea leaves one shred at a time, looking for the definitive sign that Armageddon is over, so we can all go back to making money again. What history shows, however, is that the road to recovery from a catastrophic bear market can be distressingly long.
By Jason Zweig, Feb 26, 2009, WSJ

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