Martin Zweig, stock guru who predicted 1987 crash, dies at 70
NEW YORK (REUTERS) - Mr Martin Zweig, a market commentator and fund manager who predicted the 1987 stock market crash, died on Monday, according to his investment firm. He was 70.
Mr Zweig predicted the "Black Monday" stock market crash of 1987 on television show Wall Street Week on PBS. The 1987 crash was the biggest one-day market decline in history, with the Dow Jones Industrial Average falling 22.6 per cent.
No cause of death was given.
Mr Zweig gave his memorable forecast on Oct 16, 1987, three days before the notorious market crash. He was a regular guest on the show. "I haven't been looking for a bear market per se. I've been really in my own mind looking for a crash," he said on the television programme.