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Yale Economist: Stock Crashes Rare, Invest Long-Term

9/24/2025

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Summary

Story summary

Yale economist William Goetzmann notes four major stock crashes: 1987, 2000, 2008, and 2020, based on his experience.
His research finds investor fears are often irrational, with surveys showing a 10%-20% perceived crash chance within six months.
Severe downturns after surges are rare (less than 1%), underscoring the value of long-term investing as conditions evolve.

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Story summary

Yale economist William Goetzmann notes four major stock crashes: 1987, 2000, 2008, and 2020, based on his experience.
His research finds investor fears are often irrational, with surveys showing a 10%-20% perceived crash chance within six months.
Severe downturns after surges are rare (less than 1%), underscoring the value of long-term investing as conditions evolve.