Everyone at Brighton Securities is bringing home a bottle of champagne tonight in celebration of the Dow Jones Industrial Average (DJIA) crossing the 15,000 mark for the first time. Yes, yes, the DJIA is just an index of 30 stocks, a crude yardstick to measure the complex beast that is the US economy. But it is a widely followed historical marker, and history was made today.
When I started in the investment business the DJIA was at 1,000 and it was a constant topic whether or not it would stay above 1,000. Stay above it did, and over the last 30 years it has made steady progress despite crashes, panics and crises of every description. For all of my colleagues who have weathered the market's ups and downs over the years, and for all of our clients who have done the same - Cheers!
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).