Crisis · S&P 500 Index (1998)
Replay 144 daily bars through the 1998 LTCM crisis as the S&P 500 absorbs a 19.3% drawdown. You step through each session, confront nine critical decision points, and receive AI coach review in a simulated training environment.
144 daily bars · 25 decision points · 1998-04 to 1998-11 · Stocks
Key facts
This window spans 204 days with a peak-to-trough drawdown of 19.3% and a 19.2% run-up.
- Max drawdown
- −19.3%
- Max run-up
- +19.2%
- Duration
- 204 days
- Largest single-day move
- −6.8%
- Bars
- 144 Daily bars
- Decision points
- 25
Every figure above is computed programmatically from this replay’s own candle series — no editorial input, no LLM. Methodology: Methodology
The market advances day by day. You only see candles up to the current day — as if you were really there.
At key decision points choose Buy / Trim / Exit / Hold. Each decision advances the timeline by one day.
After settlement you get a six-dimension score and an AI coach review. Your result enters the scenario leaderboard.
Event Replay
What happened — and what it teaches
The scene recreates the S&P 500 during the collapse of Long-Term Capital Management, a hedge fund whose failure threatened global markets in 1998. Spanning from April 20 to November 10, traders and investors faced a period of extraordinary uncertainty as the LTCM crisis unfolded. The 144 daily bars capture an era when leverage, correlation breakdowns, and panic selling combined to create conditions most participants had never witnessed. What was at stake was nothing less than confidence in the financial system itself.
The index closed at 1123.65 on the opening date and finished at 1128.26, a modest 0.4% net gain over the full span. Yet this headline number conceals the true drama: a maximum drawdown of 19.3% tested portfolios severely, while the largest single session delivered a 6.8% move. Participants encountered 25 decision points across the replay, nine of them marked as critical moments requiring deliberate choices. The gap between the flat final close and the violent intermediate swings tells the real story of this period.
This replay trains decision-makers to act when fundamentals feel irrelevant and volatility rewrites rules. The 19.3% peak-to-trough decline exposes how even diversified positions can bleed when correlations converge in crisis. Process matters more than prediction here: participants must practice position sizing, drawdown thresholds, and emotional discipline without the luxury of hindsight. The nine critical points become laboratories for stress-testing plans under authentic pressure, building the psychological resilience that separates disciplined operators from reactive ones. The 0.4% net outcome reminds us that survival through turbulence often matters more than timing its conclusion.
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