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Started By
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On this date, December 2, in 1986, the Dow Jones 30 Industrial Average...
Posted on 12/2/23 at 2:32 pm
Posted on 12/2/23 at 2:32 pm
...achieved a new all-time record high: 1,955.57.
Also on this date in 1993, the Dow Jones 30 Industrial Average reached another all-time record high, 3,702.11.
It closed yesterday at 36,245.50 which was not a record high but it was a new closing high for 2023.
Also on this date in 1993, the Dow Jones 30 Industrial Average reached another all-time record high, 3,702.11.
It closed yesterday at 36,245.50 which was not a record high but it was a new closing high for 2023.
2
Posted on 12/2/23 at 2:53 pm to LSURussian
Can't' wait to retire in 2053 when it's at 370,000
Posted on 12/2/23 at 2:58 pm to Thundercles
And your average grocery bill will be $5,000.
Posted on 12/2/23 at 5:42 pm to Thundercles
quote:
Can't' wait to retire in 2053 when it's at 370,000
Only 8% annualized returns and you’re there. Pretty likely.
Posted on 12/2/23 at 5:42 pm to SloaneRanger
quote:
SloaneRanger
Oh you.
Posted on 12/2/23 at 5:56 pm to slackster
quote:
Only 8% annualized returns and you’re there. Pretty likely.
It's just insane to fathom right now, but I'm sure 36,000 seemed just as insane in 1993.
Posted on 12/2/23 at 7:01 pm to LSURussian
quote:Was it equal-weighted back then?
On this date, December 2, in 1986, the Dow Jones 30 Industrial Average
Posted on 12/3/23 at 10:27 am to Thundercles
quote:I remember about 10-12 or so years ago Warren Buffett in one of his Becky Quick, CNBC, interviews predicted that in 100 years from then the DJ30 could be around 1,000,000.
Can't' wait to retire in 2053 when it's at 370,000
Of course when that quote was posted on this board the usual Chicken Littles on here started making fun of it.
So I did a very quick compounding computation from where the DJ30 was then to 1,000,000 to see what percent interest gains compounded it would take for the index to hit 1,000,000 in 100 years.
It turned out the index would need to average around 2% annual gains compounded to make Buffett's quote come true.
Very doable.
Posted on 12/3/23 at 3:46 pm to Thundercles
quote:
Can't' wait to retire in 2053 when it's at 370,000
Dang one can only hope.
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