Happy Anniversary
October 9, 2008 by Tisa Silver
Filed under Finance
Today marks the one year anniversary of the all-time high for Dow Jones Industrial Average. The past year has seen plenty of ups and plenty more downs. The Dow closed today at 8,579.19 which is about 39 percent off of its closing value of 14,164.50 on October 9, 2007.
Today’s decline was the largest decline since October 1987. People are afraid to officially declare this week’s string of losses a crash but, if this isn’t crashworthy, I don’t know what is.
Historically, the good thing about a crash is that it is always followed by a rebound. I believe this case is no different. The markets will eventually regain their footing. In the meantime, there are some companies that do not deserve to get dragged down with the rest of the market and I will continue to encourage bargain hunters to start shopping.
While today’s market saw plenty of long faces, this face wears a big smile. Today is another anniversary….as of today, my mom and dad have been married for 37 years.
Maybe investors should take a lesson from my parents. If you really believe in something don’t sell out! Weather the storms, continuously invest, and later on reap the rewards.
