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Today's quote:

Friday, November 11, 2016

From bust to boom and back again

The ASX 200 10-year chart

 

Not pretty, is it? We'd been right up there at 6754 in October 2007. Then the GFC began to bite and took the market all the way down to 3344 in February 2009 (for more historical data, click here).

Of course, I've been mainly in BHP which performed even worse because it was also hit by the huge drop in coal and iron ore prices and the dam burst in Brazil, savaging its share price, which had been approaching $50 in mid-2008, to just under $15 in January 2016 (for more historical data, click here and click on "All" above the graph).

Of course, money never goes away. It just changes hands - from mine to theirs. As I write this, the ASX 200 is at 5325 and BHP at $24.95.