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The 17.6 Year Stock Market Cycle: Connecting the Panics of 1929, 1987, 2000 and 2007 by Kerry Balenthiran

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Introduction

The stock market first attracted my attention during the technology bubble crash in 2000. Everyone knew that there were no profits underpinning dotcom company valuations, but now it seemed that some of the revenues didn’t exist either. A number of high profile frauds, such as Enron and WorldCom, were exposed by the 2001 recession. This was of particular interest to me because my employer at the time, Arthur Andersen, appeared to be at the centre of the accounting storm and I was facing the prospect of losing my job.

Most of my friends and colleagues were investing in the stock markets at the end of the 1990s. The fact that they knew nothing about investing didn’t bother them, whatever they bought went up in price and therefore ...

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