Just mentioning the word “Lehman” conjures up a certain je ne sais quoi in these parts.
Use it in a phrase like “but that was pre-Lehman” or “that wouldn’t have happened if not for Lehman” and Wall Streeter’s will know exactly what and when you’re referring to. Hell, anyone in the business world will know what you mean and anyone in NYC will really know. We thought it was the end of everything for a moment there, it was palpable out in the streets here.
We’ve just round-tripped on the S&P to where we were in September of 2008, just before the epic Lehman meltdown. That autumn was the meat of the crash, the sell-offs that came afterward were mere aftershocks.
Let’s have a look (courtesy of Bespoke) at which sectors have done what since those dark days and give thanks that we aren’t now living in “Mad Max times”.
Internet retail in the lead? Thanks, Amazon! Thanks, Netflix! Thanks, Expedia!