The 2008 financial crisis was also a once in a 100+ year event.
So was the 2020 Covid-19 pandemic.
And the 2022 Russo - Ukrainian war.
And now I wonder what "once in 100+ year event" we'll have next year.
That is absolutely not a once per century event. WWII was 80 years ago.
- Mort, by Terry Pratchett
Which actually plays out often, birthday-paradox style.
2008 was closest to 1929.
The market only "recovered" because the government intervened and infinite money got printed and poured onto it. Otherwise it would have crashed.
The greatest wealth transfer in history is not "the free market recovered" but a rigged game.
What actually happened is Gates and Bezos lost half their wealth, but everyone's still complaining! Just get all the other rich guys to get divorced.
This also assumes you put no new money in the market and ignoring dividends. Buying the dip in the 30s, 40s would have cut this time to breakeven significantly. Also, we're talking a once in a 100+ year event. We may never see a repeat of a similar sized crash again in our lifetimes.