F.B Housser Jan15, 1932 on how stocks did in 1929 -31THE immediate outlook on the stock market is uncertain. With gold selling at a premium in every world capital, gold shares look as though they would maintain favor for some time to come. Industrial securities, including the coppers, will have to await the settlement of many as yet unsolved problems before anything resembling a continuous bull market can be expected. When this will occur no one can say, and any attempt at a forecast would be merely guessing. If past market history is any criterion, we can expect to see a long period of quietness in the market during which prices will remain practically stationary before any prolonged general advance can be looked for. Such periods in the past have usually been the indication that the bottom has been reached. No such period has yet been seen. In the present depression we have international politics, tariffs and social unrest hand in hand with a series of bad financial situations. The trend of international politics will therefore be one of the primary factors in restoring stock market confidence.
Does history repeat or what? DF