Dow Jones: Worst June Since Depression
Posted on Friday, June 27th, 2008 | In Current Market NewsAs a cheerful Bloomberg headline reminds us, equity investors are facing their worst June since the Great Depression. And sure enough, most major markets (the Hang Seng, Dax, CAC, S&P 500 … ) are down more than -8% this month, pulled lower by a number of concerns including a) the health of Western banks, b) the rise in oil prices, c) deteriorating economic growth and d) worsening inflationary pressures.
If the current month ended today the Dow Jones Industrial Index would be down 9.4% and have locked in the worst June since 1930. Check the following chart, coursey of Paul Kedrosky, for the painful picture.
“Granted, June 2008 is not in the top 30 bad months of all time, so let’s keep our heads on, but if it feels like it’s been a nasty, nasty month, that is because it has been,” said Kedrosky.
Source: Paul Kedrosky’s Infectious Greed & Bloomberg, June 26, 2008.
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Current Market News, Dow Jones Industrial, dow jones industrial index, Equity Investors, Great Depression, infectious greed, inflationary pressures, paul kedrosky
 About Prieur du Plessis (http://www.investmentpostcards.com)
Prieur du Plessis has 25 years’ experience in professional investment research and portfolio management. More than 1,000 of his articles on investment-related topics have been published in various regular newspaper, journal and Internet columns. He has also published a book, Financial Basics: Investment. Prieur is chief executive and principal shareholder of South African-based Plexus Asset Management, which he founded in 1995. The group conducts investment management, investment consulting, private equity and real estate activities in South Africa and other African countries. Plexus is the South African partner of John Mauldin, author of the Thoughts from the Frontline e-letter, and also has an exclusive licensing agreement with California-based Research Affiliates for managing and distributing its enhanced Fundamental IndexTM methodology in the Pan-African area. Prieur is 52 years old and lives with his wife, television producer and presenter Isabel Verwey, and two children in Cape Town, South Africa. His recreational activities include long-distance running, motor cycling, traveling and reading. |
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