Letter Re: The US Stock Market–A Net Loss for Investors Since 1999
Mr. Rawles, In all the discussion about the [US] supreme court [Second Amendment] ruling, today’s stock market plunge may have been overlooked. The Dow Jones Industrial Average closed at 11453.42. That’s just over half a point gain to date for the millennium. On December 10, 1999, (8-1/2 years ago) the Dow closed at 11452.86. In the years since then, our country has grown by tens of millions of people, and the most optimistic estimates of inflation average 2-to-3% annually. But the market is up only 0.005%. As [the pop music singer] Prince might say, “Party like it’s 1929.” – Robert …