• Thought of the Day

    Thought of the Day

    2000: The longer the run I have accumulated myself over these many years, the less information I find in the long run to help me understand the future.

    –Peter L. Bernstein, "The Past as the Present," Economics and Portfolio Strategy (July 1, 2001), p. 2.

Today in Financial History

1962: In the wake of President John F. Kennedy's widely quoted (but perhaps apocryphal) remark that "My father always told me that all businessmen were sons-of-bitches," the Dow Jones Industrial Average suffers its worst one-day point drop since the Crash of 1929, as it sheds 34.95 points, or 5.7%. On "Blue Monday," volume is a huge 9.35 million shares and the ticker runs 2 hours and 28 minutes late in recording the day's closing prices.

John Brooks, The Go-Go Years (Weybright and Talley, New York, 1973), pp. 56-57;Floyd Norris and Christine Bockelmann, The New York Times Century of Business (McGraw-Hill, New York, 2000), pp. 182-183