Black Monday, the stock market crash of 1987 took place 20 years ago today. Elaine Garzarelli was an unknown analyst at Shearson when she predicted the crash. Twenty years later, she offers a few comments to 24/7 Wall Street,

We also wanted to ask market pundits of the time how today is different 20 years later, and Elaine Garzarelli was one of the more recognized pundits that was credited for having predicted the market crash in 1987. This week she responded to an inquiry and told 24/7 Wall St., “It is a different world today..In October, 1987 inflation was 5%, long rates were over 10%, and the S&P500 was 35% overvalued. In October, 2007 inflation is under 2%, long rates are near 5%, and the S&P500 is 30% undervalued…” Garzarelli Research can be accessed at www.garzarelli.com to see more detailed takes on her research. Thanks for the exclusive comments, Elaine.