Jim Cramer's got some advice about the next market crash for those who may not have lived through Black Monday.
Not sure what Black Monday even is?
Well, it's the nickname for the stock market crash of 1987. It refers to the largest single trading session decline in U.S. history. The Dow Jones Industrial Average lost 509 points.
The stock market crash of 1987 caused significant damage, with the Dow losing 22% of its value. There are multiple reasons for the crash itself, with several key triggers contributing to the carnage on Black Monday.
TheStreet has covered Black Monday extensively. You can find more coverage here.
TheStreet's CEO, David Callaway, was a reporter at The Boston Herald during the 1987 Black Monday crash. He details the day of October 19. 1987 in an interview with TheStreet here.
Jim Cramer detailed the cause of Black Monday and also what the younger generations can do to prepare for the next crash.
In his Daily Rundown video for Action Alerts Plus, Cramer dug into the specific steps that anyone can take to prevent themselves from losing out if the market crashes again. To become a subscriber of Action Alerts Plus, follow this link.