The Crash Of '87
The big stock market crashes of 1929 and 1987 both occurred in late October. In fact, this week is the 20th anniversary of 1987's "Black Monday." Those anniversaries are not lost on traders in today's volatile financial markets.
In 1987, Jack Bouroudjian was a first year trader on Wall Street. As things started to go sour, Jack was making money, buying at bargain prices. Then he took one look at the faces of the older traders and he knew this was not your typical "buy low, sell high" scenario. Jack remembers the crash of '87, and gives some insight into the markets today.
Lessons from '29
It was a long time ago, but Mary Jane Young still has vivid memories of the 1929 crash. Before the crash, her father was a successful real estate builder in New York. He also bought stock on the margin and eventually lost everything.
Dick talks to Mary Jane about watching their belongings and her playhouse auctioned on their front lawn, just hours before her family became homeless.
Mary Jane says it was a lullaby her mother sang that kept her content through their move from a park bench to an abandoned house.
- Learn about the causes of a stock market crash
- Learn more about the 1929 stock market crash
- Read about the 1987 stock market crash
Happy Birthday Freda!
Freda Aron has appeared on The Story a few times before over the last couple of years. Freda's originally from New York, and lived for years in Chicago. Over the decades she's been a nurse and a reporter. Until recently, she lived in Sitka, where she hosted the Frankie and Freda New York Jazz Show.
Listeners who've heard her show, or her conversations with Dick, will know how irrepressible and outspoken she is. Freda turns 93 today and she's still a force to be reckoned with. But she's had to leave her beloved Alaska behind for health reasons, and is now living closer to family in Zion, Illinois. Dick caught up with Freda just before her birthday bash, and found out she still has much to celebrate.