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Oz stock market “crash” in perspective

23 January 2008 in Business, Hallucinating Goldfish by Stilgherrian | No comments

Yes, there was a 7.1% drop in the ASX All Ordinaries yesterday, the 4th biggest one-day fall in our history. But before you throw yourself out of the window, let’s put that in context.

Graph of ASX All Ordinaries over last 20 years

That’s a graph of the All Ordinaries for the last 20 years, thanks to Robert Merkel in Lavartus Prodeo. See that little wiggle at the far right-hand side? That’s yesterday. Short-term thinking is perilous.

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