Sometime ago I read an article which I really wish I could find now.
If I remember correctly it was written when the FTSE was riding high at well above 6,000.
It basically said that the FTSE fell as low as 3287 in March 2003 and that, according to the writer, we were “unlikely to ever see the FTSE at those sorts of levels again” (or words to that effect).
The quote stuck in my mind as I often read stock market related books and many say the same thing - markets are never too low to go lower.
And I guess what we are seeing now is severe fear in the markets and a lot of selling.
What do you think - will the FTSE fall further than that famous March 2003 low?
I wouldn’t bet against it.
In fact, I would imagine that certain people are making a lot of money from this falling market.