The S&P 500 Has Risen by 1000 Points in 4 Years
After the quick rise that I noticed last week, the US stock market index has kept going to reach another milestone. As we know the recent low was $666 during the day of March 6th 2009 (if you search for that now you will find some seriously weird websites – including one blogger who takes credit for calling the bottom a full month after it happened). As I watched the Google Finance page this afternoon it rose to $1,666, marking a gain of a full 1000 points in 4 years, 2 months, and 11 days. It actually went up to $1,667 for a few minutes before traders wised up and brought it down to close at a more significant number.
It’s interesting to note that if you read anything about investment back in early 2009, all you saw was warnings about how the stock markets were sure to crash again soon and you had to get out before that happened. And that is much the same as what you will read today. Obviously the price was a lot better in those days. But we still seem to be lacking the blind over-enthusiasm that marks a bubble. We’ll all be better off if it doesn’t come back.