Quote of the Day
“I can calculate the motions of the heavenly bodies, but not the madness of people.” – Iasac Newton
This Day in History
1720 – Iasac Newton sells his shares in South Sea Company for a profit of 100%, or about 7,000 pounds. However he couldn’t resist the urge to make more when soon after he would buy back into the South Sea Company Stock and eventually lose 20,000 pounds, leading Newton to state: “I can calculate the motions of the heavenly bodies, but not the madness of people.” – Source: Manias, Panics and Crashes
1933 – U.S. stocks continue their rally after the U.S. officially abandons the gold standard the day before. After a rise of 9% on the 19th, April 20th the Dow rises another 5.8% – Source: It Was A Very Good Year
Best April 20th in Dow Jones Industrial Average History
1933 – Up 5.80%, or 5.66 points
Worst April 20th in Dow Jones Industrial Average History
2009 – Down 3.56% or 289.6 points
