A look back over the market ups and downs since 2001 and the fateful day of 9/11
20 years since 9/11
It’s been twenty years since two airplanes flew into the twin towers in New York City. It was a big thing!! I am sure that most people can still remember where they were when they heard the news. If you ever find yourself in New York, the museum at Ground Zero is amazing and well worth a visit.
It was early on in my career when 9/11 happened. The US markets were closed for a week. Nobody was particularly sure how it would play out, and when the NYSE re-opened, the indices had fallen like a lead balloon.
However, twenty years later looking at a chart of the AllShare Index, September 2001 is the tiniest blip on the chart. We have had many pullbacks and recoveries since then. The market recovery following the initial hard lock-downs that saw the world grind to a halt at the start of the Coronavirus pandemic surprised many people.
The lesson I take out of this is that markets continue to operate regardless of the volatility of the world around us. We survive the scares in the market many times over. It is always nearly impossible to see how things will play out when we’re in the midst of a crisis, but over time equities are the most compounding asset class. Volatility is scary, but in a world where yields are low, this remains a most compelling story.
The terror attacks in New York also ushered in a change in the way financial transactions are managed. The introduction of Financial Intelligence (FIC), Anti Money Laundering (AML), Know Your Client (KYC), and way too many more regulations have made it increasingly challenging to operate easily within the markets — perhaps worthy of an opinion piece on the matter. Regardless of world events and regulations, the market goes on and as long as it keeps going, we’ll continue to dance the markets tango.
Asset Class Returns
The table below represents a rolling year view of the major asset class returns that we track. It offers a view of the asset classes we use to diversify your portfolio.
20 years since 9/11
It’s been twenty years since two airplanes flew into the twin towers in New York City. It was a big thing!! I am sure that most people can still remember where they were when they heard the news. If you ever find yourself in New York, the museum at Ground Zero is amazing and well worth a visit.
It was early on in my career when 9/11 happened. The US markets were closed for a week. Nobody was particularly sure how it would play out, and when the NYSE re-opened, the indices had fallen like a lead balloon.
However, twenty years later looking at a chart of the AllShare Index, September 2001 is the tiniest blip on the chart. We have had many pullbacks and recoveries since then. The market recovery following the initial hard lock-downs that saw the world grind to a halt at the start of the Coronavirus pandemic surprised many people.
The lesson I take out of this is that markets continue to operate regardless of the volatility of the world around us. We survive the scares in the market many times over. It is always nearly impossible to see how things will play out when we’re in the midst of a crisis, but over time equities are the most compounding asset class. Volatility is scary, but in a world where yields are low, this remains a most compelling story.
The terror attacks in New York also ushered in a change in the way financial transactions are managed. The introduction of Financial Intelligence (FIC), Anti Money Laundering (AML), Know Your Client (KYC), and way too many more regulations have made it increasingly challenging to operate easily within the markets — perhaps worthy of an opinion piece on the matter. Regardless of world events and regulations, the market goes on and as long as it keeps going, we’ll continue to dance the markets tango.
Asset Class Returns
The table below represents a rolling year view of the major asset class returns that we track. It offers a view of the asset classes we use to diversify your portfolio.