Dow 10,000

By Edward Harrison On Oct 6, 2008

The Dow Jones Industrial Average has just fallen below 10,000 for the first time since 2004. Breaking through the 10,000 barrier was a huge deal on CNBC when we were partying like it was 1999, nine years ago.

Essentially, we are back to stock market levels that prevailed a decade ago — proof that we are in a major secular bear market.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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3 Comments

Wag the Dog says 16 years ago

The customer tags on this book are most appropriate:

“Dow, 30,000 by 2008” Why It’s Different This Time
Edward Harrison says 16 years ago

Hilarious. Robert Zuccarro’s book reminds me of this one:

Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market
John Maszka says 16 years ago

Regarding today’s crash, this bailout is just one more example of the indivisible handjob stroking irresponsible CEOs and CFOs with billions so that they can run the American economy even further into the ground. So much for Keynesian economics. If the goal is to stimulate the economy, why not invest the money directly into the American taxpayers? The government could do twice as much good for the economy by returning half as much money (as the bailout requires) directly to the hardworking American taxpayers. A bird in the hand is worth two in the bush administration.

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