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The DowJones Industrial Average AND the S&P500 Index both closed at record highs today
Posted on 1/19/24 at 7:21 pm
Posted on 1/19/24 at 7:21 pm
DowJones Industrial Average closed at 37,863.80 and the S&P 500 closed at 4,839.81.
The DJIA started 2024 at 37,689.54 and the S&P 500 started the year at 4,769.83.
The DJIA started 2024 at 37,689.54 and the S&P 500 started the year at 4,769.83.
8
Posted on 1/19/24 at 7:43 pm to LSURussian
To the moon!
Posted on 1/19/24 at 7:57 pm to LSURussian
That’s great until you realize that a dollar is worth a lot less than it was three years ago. What was the Dow three years ago? For those of us lucky to own a lot of equities we have stayed flat or fallen a little behind. Most Americans haven’t been so lucky.
Posted on 1/19/24 at 8:14 pm to LSURussian
Crash incoming 
Posted on 1/19/24 at 8:35 pm to SloaneRanger
quote:
That’s great until you realize that a dollar is worth a lot less than it was three years ago.
Why do you do this in every thread like this?
quote:
What was the Dow three years ago? For those of us lucky to own a lot of equities we have stayed flat or fallen a little behind.
S&P 500 total return is up 35% in the last 3 years.
CPI is up 17%.
quote:
Most Americans haven’t been so lucky.
Most Americans don’t save any money, so who cares what a dollar was worth 3 years ago when they spent that dollar anyway?
And before you complain about the cost of things today, realize that median real weekly earnings are down 1.3% in the last 3 years. Thats not nearly the doom and gloom some of you want it to be, and considering the crazy spike in real wages we saw in 2020, that’s pretty damn impressive.
Posted on 1/19/24 at 8:42 pm to slackster
quote:
Why do you do this in every thread like this?
Why do you ignore this in every thread like this. Are you really trying to tell us that a dollar has anywhere close to the same purchasing power that it did at the end of 2020? Because if you believe that then I really don't know what to say.
Are the prices of stocks up? Absolutely. So are the prices of the food I have to buy, restaurant meals, insurance, rent, etc. See how this works?
Posted on 1/19/24 at 8:54 pm to LSURussian
Time to short it to Hades?
Posted on 1/19/24 at 9:03 pm to SloaneRanger
quote:
See how this works?
The other poster already noted that the SP500 outpaced CPI over the same time period.
Posted on 1/19/24 at 9:08 pm to lynxcat
quote:
The other poster already noted that the SP500 outpaced CPI over the same time period.
To be fair, we all know the official CPI is a lie and hard assets (especially those which generate income) have gone up at LEAST 35%.
I’m not against celebrating the small victories, though. They both have a point.
Posted on 1/19/24 at 9:32 pm to SloaneRanger
quote:
Most Americans haven’t been so lucky.
One of the silliest arguments I had on here a few weeks ago was that Americans without stocks have gotten blasted while at least stock owning Americans have come out a little ahead.
People couldn't fathom this concept. The bottom 50% of the country owns 0.6% of the stocks in existence, so they're just getting shredded through all this.
Posted on 1/19/24 at 9:48 pm to slackster
quote:Median net worth is up a lot in the past 5 years also.
And before you complain about the cost of things today, realize that median real weekly earnings are down 1.3% in the last 3 years. Thats not nearly the doom and gloom some of you want it to be, and considering the crazy spike in real wages we saw in 2020, that’s pretty damn impressive.
Posted on 1/19/24 at 10:22 pm to SloaneRanger
quote:
For those of us lucky to own a lot of equities we have stayed flat or fallen a little behind.
I own a lot of equities. I’m miles ahead of where I was at the end of 2020. You’re not?
Posted on 1/19/24 at 10:22 pm to SloaneRanger
quote:
Are the prices of stocks up? Absolutely. So are the prices of the food I have to buy, restaurant meals, insurance, rent, etc. See how this works?
So is your paycheck. What’s your point?
Posted on 1/19/24 at 10:30 pm to Decisions
quote:
To be fair, we all know the official CPI is a lie and hard assets (especially those which generate income) have gone up at LEAST 35%.
Let’s ignore CPI and look at something that is very public and very easy to check - gasoline. The S&P 500 has outpaced the price of gasoline by 6% in the last 3 years.
Simply put, it’s ridiculous to downplay the market like Sloane does by arguing “yeah, but dollars are worth less.”
The fact of the matter is the majority of posters on this board have higher real net worths today than they did 3 years ago.
This post was edited on 1/20/24 at 12:40 am
Posted on 1/19/24 at 10:59 pm to slackster
quote:
Let’s ignore CPI and look at something that is very public and very easy to check - gasoline. The S&P 500 has outpaced the price of gasoline by 6% in the last 3 years.
That’s fair. A solid point. What about food, rent, and vehicles? I would say they’ve all at least kept pace with, if not surpassed, the S&P.
quote:
Simply out, it’s ridiculous to downplay the market like Sloane does by arguing “yeah, but dollars are worth less.”
I get where you’re coming from, but what is incorrect about his statement? The dollars are worth less. It’s not the only problem, of course. We have seen a stock market run fueled almost entirely by the Magnificent Seven while the rest of the S&P 493 languish. Margins and revenue for most are down. Debt is up and popping some like grapes.
quote:
The fact of the matter is the majority of posters on this board have higher real net worths today than they did 3 years ago.
If they weren’t borrowing money for investments I would have doubts about this. These index appreciations are at best keeping you even with actual inflation, not beating it. Individual stocks will, naturally, over and under perform.
This post was edited on 1/19/24 at 11:02 pm
Posted on 1/19/24 at 11:42 pm to Decisions
quote:
If they weren’t borrowing money for investments I would have doubts about this. These index appreciations are at best keeping you even with actual inflation, not beating it. Individual stocks will, naturally, over and under perform.
That’s not how it works.
Posted on 1/19/24 at 11:48 pm to Decisions
Bidens America?
Posted on 1/19/24 at 11:54 pm to Thundercles
quote:
The bottom 50% of the country owns 0.6% of the stocks in existence, so they're just getting shredded through all this
And out of the top 50%, how many are realizing these gains before the next downturn? While it is great that my retirement accounts are up, I'm paying out the nose for groceries and other items.
Posted on 1/20/24 at 12:06 am to SloaneRanger
quote:huh? He addressed it
Why do you ignore this in every thread like this.
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