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BLACKBERRY CALLED THE IPHONE "THE STUPIDEST THING I'VE EVER SEEN" The scene from the movie BlackBerry that shows how it all went wrong In the 2023 film, BlackBerry's leaders brush off Apple's $AAPL new phone as an over-designed toy that would crash any network that took it on. Their bet was on the keyboard. Ask anyone what they love most about their BlackBerry, they said, and you'd get the same answer every time. Then the numbers came in, and one line summed it up: "We're going to go from number one phone in the world to that phone that people had before they bought an iPhone." That's what happened. Apple became one of the most valuable companies in the world, and BlackBerry eventually stopped making its own phones.

Black Monday turns 39 today, and a modern echo of its selling spiral is near record size. In 1987, portfolio insurance had investors selling as prices fell, but too many did it at once. Today, leveraged ETFs generally have to do something similar to hit their targets, selling after losses and buying after gains. Read more:

Black Monday was 38 years ago, and way too many people are talking about a similar stock crashing happening today. @BrianSozzi says that's absurd. Too many positive things are happening right now for that to even be a consideration. There will be no Black Monday sequel, Sozzi says. It's unlikely to happen.