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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (88926)	4/10/2012 4:22:28 PM
From: Maurice Winn	1 Recommendation Read Replies (1) \| Respond to of 217603

ElM, children can't remember back to the 1970s even though Google has all the information for them at the click of a mouse. <stock price was not a useful benchmark of anything in the nineteen-seventies, because the market was stagnant. On November 14, 1972, the Dow stood at 1,000. By 1974, it had fallen to 577, and it didn’t get back to 1,000 until 1982. In the rising market after 1982, though, the idea that the fundamental purpose of a publicly owned business is to make money for its shareholders became a basic tenet of capitalist faith. > Share price was a very useful benchmark in the 1970s. Share prices were not stagnant. They went up and down 20% a year and in 1974 there was a huge collapse. 1000 down to 577 and back to 1000 is not "stagnant" in any sort of language. Having been a capitalist since the 1960s, I can assure you that having publicly owned businesses making money for shareholders was the basic tenet of capitalist faith. Computers and the Cyberspace revolution enabled things to change. Mqurice