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Quote of the Day
“It never was my thinking that made big money for me. It was always my sitting. Got that? My sitting!”
-Ed Lefevre, Reminiscences of a Stock Operator
August 4th – This Day in Stock Market History
August 4th, 1917 – Scorching hot temperatures force the NYSE to close for the day. Temperatures had been over 98 degrees for 6 consecutive days.
Source: New York Sun August 5th 1917, Wall Street and the Stock Markets: A Chronology
August 4th, 1932 – 1 day after stocks rose a staggering 9.5% on August 3rd, the “new bull market” continues. The Dow Jones Industrial Average rises another 2.42% on this day, and would rise another 4.98% on August 5th and 6.33% on August 6th! – capping off one of the best weeks in stock market history.
August 4th, 1933 – Tear gas bombs placed near the NYSE trading floor ventilation force the stock market to close for the day.
At 12:07 pm, 2 canisters of tear gas were placed next to a vent intake, causing the gas to quickly spread to the trading floor.
The 4 men initially arrested belonged to the “National Independent” political party.
Source: Chicago Tribune August 5th 1933 Pages 1 and 3,
Best August 4th in Dow Jones Industrial Average History
1932 – Up 2.42%, 1.41 points.
Worst August 4th in Dow Jones Industrial Average History
1919 – Down 4.79%, 5.17 points.
Video of the Day
New to the idea of value investing? Here is a quick 3 minute primer from Danny DeVito in the movie “Other people’s money“
Ready to dig deeper? Ben Graham is one of history’s most famous value investors – he even taught a guy named Warren Buffett a thing or two. We take a look at stocks that pass his investing checklist here:
<– Go to Previous Day: August 3rd, 1932 – Stocks have their 3rd best day in history as the bottom of the Great Depression is in.