For the first time the Dow has broken through the 19,000 level. Now, how long it stays there is anyone’s guess, but 20,000 no longer seems to be out of the question and Warren Buffett (per first link below) feels markets can move higher from here. Meanwhile, those who had a forecast of complete doom-and-gloom if Donald Trump won the election remain pretty quiet for the time being.
But this level got me intrigued … so I researched just how long it typically took to reach the next “milestone” … and, most times, it happened pretty quickly. Information from money-zine.com is listed below:
Dow level date | Time it took | Dow level | Date | Time it took
1,000 November 4, 1972 76 years 11,000 May 3, 1999 1 month
2,000 January 8, 1987 14 years 12,000 October 19, 2006 7 years, 5 months
3,000 April 17, 1991 4 years 13,000 April 25, 2007 6 months
4,000 February 23, 1985 4 years 14,000 July 17, 2007 3 months
5,000 November 21, 1995 9 months 15,000 May 7, 2013 5 years, 10 months
6,000 October 14, 1996 11 months 16,000 November 18, 2013 6 months
7,000 February 13, 1997 4 months 17,000 July 3, 2014 8 months
8,000 July 16, 1997 5 months 18,000 December 23, 2014 5 months
9,000 November 4, 1972 9 months 19,000 November 22, 2016 1 year, 11 months
10,000 March 29, 1999 12 months
So … if past history is any indication … if we break the 20,000 barrier sometime in the next year … we shouldn’t be tremendously surprised.
“You had me at ‘aloe'” is a joke that might not go over too well at your local retailer, as it seems that many products touted as “aloe vera” have little evidence of having any aloe (or vera, for that matter) at all. Just kidding about that last part. Supposedly (and yes, I had to look up “vera” on the internet) … “vera” might come from the Latin word “verus” or “truth” … which is pretty ironic in itself if a product being called Aloe Truth doesn’t content any true Aloe at all.
And on a final note for today, I included – in the last link below – what I consider to be a pretty interesting response by a potential applicant for study at Yale. I don’t know if ingenious notes and videos make the admissions officers more likely to accept your application (notwithstanding Elle Woods getting into Harvard) … but if I was in charge, I would certainly give this kid a call. It is well worth the read.
Have a great day.
Joseph G. Witthohn, CFA
Emerald Asset Management
A Quick Look at the News
November 22, 2016
Joseph G. Witthohn, CFA | firstname.lastname@example.org
… as of 11:08 AM today …
So … many claimed a disaster for the markets if there was a Trump victory … but, so far, that certainly does not seem to be the case and Warren Buffett calls those claims “silly” (MarketWatch)
Where do most people get their news (whether real or fake news)? Online … and by the end of this year, it is estimated that half the world will be “connected” (Reuters)
You had me at “aloe” … is a joke that might not go over too well at your local CVS. It seems that some products claiming this ingredient have … well … falsified its inclusion (Bloomberg)
Is the television show your kids watch littered with food ads? In an interesting study, kids whose shows have food ads eat snack more … and gravitate toward the food shown in the ads. A worrisome story (CNN)
… and I don’t know about you … but strawberries seemed really plump this year … especially those coming from California. Improved farming and travel techniques … plus “robotic workers” … are key (Bloomberg)
Now with all the guilty-about-overindulgence articles around comes one I can enjoy. Calorie counting during the holidays? Humbug! Just enjoy it (NYDailyNews)
… and I don’t know if this letter will get this kid accepted at MIT or not … but at least some comedy school might give him a scholarship. It is a great response to a school’s invitation to apply (TrendFrenzy)