Jul
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Mon
14th
The Dow is at 7,700 today, seriously
Image via Wikipedia
I did a post over the weekend about the Dow and where it is based on historic levels. My brother gave me an interesting twist on the post when I spoke to him about it.
So the first time the dow closed above 11,000 was in May of 1999. Right now (at 3pm) the Dow is at 11,042.
However that is not the whole story, when the Dow closed at 11,000 in May of 1999 the dollar was worth a lot more. So if you equalize for the loss of value in the dollar the May 1999 (based on the Euro) the Dow is actually at 7,700 today.
I am very positive on the future of the US economy and future opportunities to create wealth but it is crazy to see that a single Euro invested in the Dow almost 10 years ago would be worth less then 0.70 today.