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Quote of the Day
“A portfolio that contains too little risk can make you underperform in a bull market, but no one ever went bust from that; there are far worse fates”
-Howard Marks
November 15th – This Day in Stock Market History
November 15th, 1867 – A new invention that will change Wall Street forever is unveiled in New York City – The stock ticker is introduced by Edward Calahan.
The ticker replaced the job of a stock “runner”, whose job was to run from the stock exchange back to brokerage offices to relay the latest prices. Calahan thought up the invention as a way to improve communication and relay prices faster and more accurately to investors around the country.
Thomas Edison would improve on the device in 1869, which would become Edison’s first successful invention. After Edison’s success with the stock ticker, he could afford to set up his own laboratory for research and inventions. He would of course go on to be one of America’s most famous inventors, made possible by his improvement of the stock ticker.
Best November 15th in Dow Jones Industrial Average History
1929 – Up 5.27%, 11.45 points.
Worst November 15th in Dow Jones Industrial Average History
1991 – Down 3.93%, 120.31 points.
Read of the Day
The stock ticker represents just one of the ways that technology has left an impact on stock trading. The Wall Street Journal released a fun article detailing the 200+ year history of the New York Stock Exchange. You can find the article here:
The NYSE’s 222-Year Evolution – By The WSJ
<– Go To Previous Day: November 14th, 1972 – The Dow Jones Industrial Average closes above 1,000 for the first time in history.
Go To Next Day: November 16th, 1992 – Berkshire Hathaway shares close above $10,000 per share for the first time. –>
