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    2026: One week ago, less than a month after his 96th birthday, Warren Buffett stepped down as chairman of Berkshire Hathaway, the company he had run…

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    Thought of the Day

    2000: It's axiomatic that if you can't understand something, you can't value it. And if you can't value it, you can't determine if it's selling for half of its value.

    Longleaf Partners Fund manager O. Mason Hawkins, in The Value Line Mutual Fund Advisor, March 7, 1995.
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Jason is the author of “Your Money and Your Brain,” on the neuroscience of investing, and the editor of the revised edition of Benjamin Graham’s “The Intelligent Investor,” the classic text that Warren Buffett has described as “by far the best book about investing ever written.”

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Today in Financial History

1996: A mere 11 months after breaking the 5000 mark, the Dow Jones Industrial Average closes above 6000 for the first time, finishing the day at 6010.00.

John A. Prestbo, ed., The Market's Measure: An Illustrated History of America Told through the Dow Jones Industrial Average (Dow Jones, New York, 1999), p. 104

1980: The IPO boom of the 1980s gets off to a roaring start as Genentech, Inc., goes public at an initial offering price of $35.00. It closes the day's trading at $71.25, a 103.6% gain, one of the highest first-day returns for a stock in history.

Jay R. Ritter, professor of finance, University of Florida, "Big IPO Runups of 1975-2000,"