Stock
Is My Investment Safe If My Broker Fails?
So Lehman is gone and Merrill is swallowed by BoA.
Over the weekend, two of the four largest investment banks disappeared from the Wall Street (the fifth, Bear Sterns collapsed in March). Though many small investors may not use Merrill Lynch as their stock broker, the fall of the two big brokerage firms reminds us that [...]
10 Largest Drops of Dow Jones
In case you care, here are the 10 largest one-day drops of the Dow Jones Industrial Average in terms of number of points in the history of the index.
Rank
Date
Closing Value
Change (points)
Change (%)
1
09/29/2008
10,365.45
-777.68
-6.98%
2
09/17/2001
8,920.70
-684.81
-7.13%
3
04/14/2000
10,305.77
-617.78
-5.66%
4
10/27/1997
7,161.15
-554.26
-7.18%
5
08/31/1998
7,539.07
-512.61
-6.37%
6
10/19/1987
1,738.74
-508.00
-22.61%
7
09/15/2008
10,917.51
-504.48
-4.42%
8
09/17/2008
10,609.66
-449.36
-4.06%
9
03/12/2001
10,208.25
-436.37
-4.10%
10
02/27/2007
12,216.24
-416.02
-3.29%
Today’s 504-point loss ranked No. 6.
Update: On September 29, 2008, the Dow lost 777.68 points as the House rejected the proposed bailout plan, the [...]
Dow Jones Dropped The Most in Seven Years
Last time the Dow Jones Industrial Average Index lost more 500 points in a single day was almost 7 years ago on September 17, 2001, shortly after the terrorist attack that brought down the World Trade Center.
Today, the stock market was hammered by what happened not far away from where the towers used to stand: [...]
Bought 125 WaMu Shares
I gambled today again on Washington Mutual (WM).
Two months ago, I bet on Freddie Mac (FRE) when the stock was traded below $7. For a company like Freddie, I thought that was an attractive price. That trade was proven to be as bad as it could be: The $100 I spent on the stock is [...]
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