• Thought of the Day

    Thought of the Day

    2000: No victor believes in chance.

    –Friedrich Nietzsche, Seventy-Five Aphorisms, in On the Geneology of Morals and Ecce Homo (ed. Walter Kaufmann, Vintage, New York, 1989), p. 193.

Today in Financial History

1999: Just over nine months after breaking 2500 for the first time, the NASDAQ Composite Index rises 46.88 points to break the 3000 barrier, closing at 3028.51 on its fourth-highest volume yet on record, 1.33 billion shares.

("Nasdaq Composite Index Breaks 3000," press release dated November 3, 1999)

1971: In what some market wags call an Òinitial pubic offering,Ó Playboy Enterprises, Inc., sells its stock to the public for the first time.

1948: The day after Harry S. Truman defeats Thomas E. Dewey in the U.S. Presidential election, the Dow Jones Industrial Average slumps by 4% to 182.46 on the belief that Truman will be too soft on Communism. By November 10 the Dow has lost 9.4%.

Phyllis S. Pierce, ed., The Dow Jones Averages 1885-1980 (DowJones Irwin, Homewood, IL, 1982), not paginated