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September 3, 2016 | Financial History for September 3rd

Adrian Mastracci

Adrian Mastracci, Discretionary Portfolio Manager, B.E.E., MBA. My expertise in the investment and financial advisory profession began in 1972. I graduated with the Bachelor of Electrical Engineering from General Motors Institute in 1971. I then attended the University of British Columbia, graduating with the MBA in 1972. I have attained the “Discretionary Portfolio Manager” professional designation. I am committed to offering clients the highest standard of personal service by providing prompt, courteous and professional attention. My advice is objective, unbiased and without conflicts of interest. I’m part of a team that delivers comprehensive services and best value in managing client wealth.

Some interesting financial history for September 3rd, 1929:

On a sweltering 94-degree day, the steamy canyons of lower Manhattan are full of stock speculators back from the 1929 Labour Day hiatus.
The Dow Jones Industrial Average peaks at 381.17, setting a new all-time high that nobody realizes and closing up 27.1% for the year to date.

Volume is a blistering 4.43 million shares.
Radio Corp. of America, the hottest growth stock of them all (recall this one), closes at $505 a share, up from $94.50 just 18 months earlier.

The Great Depression is imminent.
Unfortunately, the Dow will not surpass this day’s closing price for another 25 years.

The Dow finally rises above 381.17 on November 23, 1954.
When you hear about “stocks for the long run,” do you realize how long “long” can be?

————-

Coincidentally, the Dow closed yesterday at 18,492 near the recent high of 18,668.

Best,

Adrian

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September 3rd, 2016

Posted In: Adrian Mastracci Blog

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