Oct. 19, 1987: Terrence J. McManus, a trader with Spear, Leeds & Kellogg, on the floor of the New York Stock Exchange, the day the Dow Jones industrial average lost 22.6 percent of its value. The crash left the nation fearing a recession, but the market rebounded not long after. Photo: Marilynn K. Yee/The New York Times
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Hindsight is 20/20. Not learning from it is high-functioning blindness. Mr. Galbaith cautioned that at least one factor...
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