Is It Different This Time?

By Lawrence G. McMillan

One often feels that the current market conditions are more difficult than he’s seen before, even though they’re usually not.  It’s just that the past travails have been pushed further into one’s subconscious, perhaps merely because they’ve been survived.  It’s like Army veterans fondly recalling basic training, when – in reality – it was a real pain when it was taking place; but a few years later, it doesn’t seem so bad. 

Experienced traders – especially those familiar with measuring and trading volatility – have remarked that this particular nasty bout in the market is one of the worst they can remember.  Of course, no one is saying it’s worse than the Crash of ‘87, or even those days of October, 2008, but  for many it ranks right up there behind those.  But is this really true?

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