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ON this date in 1987 - The Dow Jones industrial average dropped 508 points.
It was the worst one-day percentage decline, 22.6%, in history.
Fund managers Bun Man and Mr. Purple had differing opinions of the decline.
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ON this date in 1987 - The Dow Jones industrial average dropped 508 points.
It was the worst one-day percentage decline, 22.6%, in history.
Fund managers Bun Man and Mr. Purple had differing opinions of the decline.
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Bun felt it was further evidence of the fragility of this commodities/futures market, while Mr. P simply felt it was a market correction.
What was lost on them and most other fund managers was the fact that many a common man lost their shirt and retirement nest egg, but Wall Street marched on...
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