Did you know? You can go to any day’s “This Day in History” page by simply entering the month and date after www.begintoinvest.com/
For example: www.begintoinvest.com/May-9
Or follow Begin To Invest on Twitter or Facebook for daily posts!
Prefer video? These are posted daily on our YouTube Channel (and embedded below)
Now, ‘This Day in History’ is also available as an Amazon Alexa Flash Briefing!
Quote of the Day
“The thing I find most interesting about investing is how paradoxical it is: how often the things that seem most obvious—on which everyone agrees—turn out not to be true.”
-Howard Marks
November 14th – This Day in Stock Market History
November 14th, 1972 – The Dow Jones Industrial Average closes above 1,000 for the first time in history.
However the excitement was short lived as the Dow would fall all the way to 577 by December 1974. The whole decade of the 1970’s was not a fun one for investors as a whole:
This was also a time of very high inflation as well, which made the decade long flat market even worse. Adjusting for inflation it would take investors 20 years until their investments got back to this 1972 level!
Best November 14th in Dow Jones Industrial Average History
1929 – Up 9.36%, 18.59 points.
Worst November 14th in Dow Jones Industrial Average History
2008 – Down 3.82%, 337.94 points.
Read of the Day
1972 was also the year that Warren Buffett made one of his most famous purchases, See’s Candy. Here’s a letter that Warren Buffett sent See’s Candy’s CEO:
1972 Buffett Letter to Sees Candies
The book, Inside the Investments of Warren Buffett: Twenty Cases also has a chapter on Buffett’s purchase of See’s that is worth a read. And besides the chapter on See’s, the book is a great look at a few of Buffett’s big purchases in his career, from his time at the partnership through his investment in IBM in 2011.
<– Go To Previous Day: November 13th, 1998 – TheGlobe.com has it’s initial public offering and soars 606% on the day.
Go To Next Day: November 15th, 1867 – A new invention that will change Wall Street forever is unveiled in New York City – The stock ticker. –>