The deflation of the housing and mortgage bubble should reinforce several lessons for investors and their advisers. First, if it looks like a bubble and if you hear the phrase, “This time it’s ...

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Between Aug. 25 and Oct. 16, 1987, the U.S. stock market declined by more than 16 percent. Then, on Oct. 19 it plunged by another 20 percent, by far the largest one-day decline in U.S. history.