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On October 19, 1987, stock markets around the world crashed, a day that has become known as Black Monday. The Dow Jones saw the single largest one-day percentage decline in its history. When asked how the 2008 crash compares to that of 1987, Stephen Guilfoyle of Meridian Equity Partners responds: “As an old-timer, I can’t even call anything since ’87 a crash. Because it’s just not. There’s not the panic, there’s not the fear, there’s not the dread.” On recalling the exhaustion he experienced, Guilfoyle says: “I could not keep up with my order flow… Things were done manually at that time. There were no computers.”
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