Feb 20 Quotes & Sayings

Bear Market Begin Bear Market End Max DD Sept 1929 June 1932 -86.25 July 1933 March 1935 -33.9% March 1937 March 1938 -54.5% Nov 1938 April 1942 -45.8% May 1946 June 1949 -29.6% July 1957 Oct 1957 -20.6% Dec 1961 June 1962 -28% Feb 1966 Oct 1966 -22.2% Oct 1968 May 1970 -34% Jan 1973 Oct 1974 -48.2% Sept 1976 March 1978 -19.4% Nov 1980 Aug 1982 -27.1% Aug 1987 Dec 1987 -40.4% July 1990 Oct 1990 -21.2% Mar 2000 Oct 2002 -49.1% June 2008 Mar 2009 -54% Average Bear Market: -37.3% Buy and Hold since 1942 Compounded Annual Rate of Return: 8.03% Maximum Draw down: 54% Prior to this decade's two severe bear markets, most investors believed that only that the stock market can go up. — Andrew Abraham

A New Campus: Interviews with Steve Jobs, Steve Wozniak, Ann Bowers. Steve Jobs, appearance before the Cupertino City Council, June 7, 2011. CHAPTER 41: ROUND THREE Family Ties: Interviews with Laurene Powell, Erin Jobs, Steve Jobs, Kathryn Smith, Jennifer Egan. Email from Steve Jobs, June 8, 2010, 4:55 p.m.; Tina Redse to Steve Jobs, July 20, 2010, and Feb. 6, 2011. President Obama: Interviews with David Axelrod, Steve Jobs, John Doerr, Laurene Powell, Valerie Jarrett, Eric Schmidt, Austan Goolsbee. Third Medical Leave, 2011: Interviews with Kathryn Smith, Steve Jobs, Larry Brilliant. Visitors: Interviews with Steve Jobs, Bill Gates, Mike Slade. CHAPTER 42: LEGACY Jonathan Zittrain, The Future of the Internet - And How to Stop It (Yale, 2008), 2; Cory Doctorow, Why I Won't Buy an iPad, — Walter Isaacson