From the book The Model: 37 Years Investing in Asian Equities. Average decline in a bear market since 1929 is 38%.
No one knows what the next one will be like, but always a good reminder to build resilient companies and portfolios.
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I think his storytelling about the Asian Financial Crisis that opens the book was absolutely harrowing. Wow!
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Absolutely striking. I was backpacking around SE Asia right around that time for a couple of months and recall the tension and anxiety, especially noticeable in Indonesia.
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