10 Years After S&P Downgrade, A Decade to Savor

CAST YOUR MIND BACK 10 years—to Oct. 3, 2011. There was a fire-sale on Wall Street. Two months earlier, brinksmanship on Capitol Hill had culminated in Standard & Poor’s first-ever downgrade of the U.S. government. Meanwhile, Greece was on the verge of collapse, prompting the European Central Bank to take extreme measures to combat the region’s debt debacle. It was a scary time. But—as is so often the case—the dire stories on financial television marked the beginning of a great period for long-term investors. Read Full Article »