CNBC's Jim Cramer had a unique experience during the historic market crash of 1987 that occurred 30 years ago Thursday.
"People always want to talk about Black Monday, 30 years ago today where the Dow lost 500 points, erasing more than 20 percent of the market's value," the "Mad Money" host said. "But as bad as Black Monday was, believe it or not, it was the next day — Terrible Tuesday, as it was known back then — that really scared the bejesus out of people."
The day after the crash, investors, traders and fund managers alike could not determine the lay of the land, Cramer said. Stock prices were unclear, equities were falling, and the futures suggested the market had another 20 percent decline ahead.
"It was as if the world had ended and it didn't matter what you owned, it was going to be beaten down to a pulp by the endless cascade of Chicago S&P futures raining on the New York Stock Exchange," Cramer said. "I was scared stiff."
But in the week before the crash, Cramer got a lucky call that helped him save his hide.