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« ACORN Update | Main | Media Bias at the Belmont Debate » October 10, 2008PerspectiveEven though the stock market has lost 40 percent of its value since one year ago, as measured by the Dow Jones Industrial Average, the stock market at the end of yesterday was still four times higher than its close on Oct. 10, 1988, at 2,158, twenty years ago today. If you had invested $1,000 in a broad-based mutual fund on Oct.10, 1988, and the fund had merely followed the performance of the DJIA, you would about $4,000 today. Granted, you would have a lot more if you had sold a year ago - around $6,560 - but still, even after a drop of more than 40 percent in the last year, your investment would have grown 7.1 percent per year. That's not great growth compared to some other kinds of investments, but it's far, far better than the return you'll ever get from Uncle Sam from all that money you paid into Social Security. The message? Think long term. Posted in Economy & Business
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