"The Dow plummeted 22.6% on October 19, the largest one-day decline ever and a record that still stands. From the market's peak that summer, almost half of its gains since 1982 had been wiped out by the day's close. At the time, I thought the crash might usher in a depression, just as the 1929 crash had signaled the onset of the Great Depression.

As it turned out, I was the fool. The market quickly regained its footing, regaining all of its loss in about 1½ years." Steven Goldberg- Kiplinger.com

Ed Note: Earnings crash and rapid recovery to new highs in 2010?

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