Do you remember where you were in September 2008?
Lehman Brothers, the US investment bank collapsed. Heralding the disaster of the Global Financial Crisis (GFC). And seeing the S&P 500 index make its biggest nosedive in a year. Down 38.49%.
We’d recently purchased a new home. Which was now worth less than what we paid. I was reading ‘Toughen Up’ — the true story of how Michael Hill built his publicly listed jewellery company [NZX:MHJ]. He did it after his uninsured dream home burnt down at the age of 39.
In 2008, wealth everywhere was in free-fall.
Then, in 2009, it started to bounce back. Governments announced bank bailouts. Quantitative Easing (QE), where they pump the markets with money. And some of the loosest monetary policy ever seen, with low interest rates that persist until this day…
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