No wonder they call this season ‘the fall’.
This has been the worst October for the stock market since 2008. I don’t think Fat Nixon will put that on his list of accomplishments.
Unless the selling stops Monday, the S&P 500 is about to experience something it has only done once since 1960- two separate 10% drawdowns in one calendar year.
How bad is it right now? Check this graphic:
While the momentum I love has died, my day job is investing in highly motivated founders who do not care what the stock market is doing.
I continue to be inspired by the founders Social Leverage has backed and the community of people hanging out all day on Stocktwits.
This bear market might just be getting started, but the other side of the bear market is now one day closer.
PS – Fred says it is an exciting time to be a crypto investor. I agree.
Also published on Medium.