Pssst! Wanna hear a secret? October 5, 2006 Posted by Murdoc US stocks fly, Dow at record close Second Consecutive Record Close for Dow Jones Industrial Average I thought this mattered. Once upon a time I seem to remember it being very newsworthy. What’s changed since then? Why doesn’t this matter now? Updated: October 5, 2006 at 9:14 am ◀ Marines in the Garden of Eden Super ▶ Comments ‘Why doesn’t this matter now?’ Cause we’ve seen the future and it’s UGLY! Ergo we’ve morphed from a nation of selfish, capitalist materialists into earth-friendly eco-warriors. After all what can you buy with enormous wealth when the average daily temperature is 120 degrees, the ice caps have melted and the Oceans have covered 75% of the earth’s landmass? This message brought to you by Greenpeace, Inc. in conjuction with your local Democrat tree hugging committee. Murdoc, the reason it doesn’t matter is because what this news means is that, if you had $1000 invested in general stocks in January 2000, then today you’d have $1 profit. If you invested in tech stocks (like I did), you’d have a little less than $600. How’s that for a seven-year investment plan? Seven years to climb out of the recession hole. Not something anyone wants to crow about. Maybe wipe our brow and mutter ‘thank god THAT’s over,’ but no cheering yet. J: That’s funny. Incidentally, there was an awful lot of crowing while the market was bottoming out. But nothing at new records. Weird. J: What if you had invested that same $1000 in 1992 or 2002? When the market is at a record high, and folks are complaining only about investments made at the previous high, you know that it can’t be that bad. You should have invested money at some other point as well, investing is a long-term hobby, not a 5 year get rich quick scheme. (And yes, almost all of my money is in high-tech, money invested before, during, and after the previous high.) That technique is known as ‘cherry-picking your endpoints’. And yeah, I was part of the 2000 bubble, and what a massive bubble it was. Comparing anything to the ludicrously over-inflated stock prices back then is just silly. so if you had invested 1000$ in the dow at the 2000 peak, you would finally be able to take $1000 out? Hasnt there been inflation in that period? isnt the dollar worth like 20% less? so doesnt that really suck?