• Thought of the Day

    Thought of the Day

    2000: Im always amused when people describe their investments as conservative speculations or else claim that they are prudently speculating. Usually that means they hope theyre investing but theyre worried that theyre gambling. The phrase were seeing one another serves the same function for couples who cant decide if theyre serious.

    –Peter Lynch, One up on Wall Street (New York: Penguin, 1990), p. 60.

Today in Financial History

1958: The Advanced Research Projects Agency of the U.S. Department of Defense, better known as DARPA, is established. In addition to creating ARPANET, the prototype of the World Wide Web, DARPA also supplies funding for projects that provide companies like Sun Microsystems and Silicon Graphics with their first major contracts. Even in the world of high tech, free enterprise sometimes gets a government assist.

1804: John Deere is born in Rutland, VT. In 1837, he throws the American frontier wide open by inventing the world's first self-cleaning steel plow, making it possible for pioneers to work the rich, vast farmlands of the midwestern and western United States.