Lessons From the Past: October 2002 vs. October 2008
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Contrary-minded investors might find some reassurance from the fact that the VIX, the sentiment surveys, and the overall action in the options market suggest that bearishness and pessimism has reached levels considerably higher than at the market bottom following the 49 percent decline in the S&P 500 from March 24, 2000 to October 9, 2002.
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