Thank you to value investor François Denault for the find.
The interview is hosted by Louis Rukeyser, guests included one of the world’s best investor: John Templeton, Steven Einhorn and William Schreyer. It was taped just after the market crash on Black Monday October 19 1987. That day The Dow Jones index fell exactly 508 points to 1,738.74 (22.61%), it’s largest daily percentage losses in history. You can tell from their display of emotion that this was not a normal week. The show starts at 1:44 min and the host had to reassure the viewers that they “just lost money and not their life”.
I wonder how people would react today to a catastrophic drop this big. Just look at the hysteria when the stock market goes down 2%. I can’t imagine the punch in the stomach of 22% drop.
By the way in 1987 there was no recession at the time and the Dow finished the year in the positive.