Hello Again -
As summer deepens and the 4th of Julys approaches, it’s time to reflect on the history of it all. This year, the 4th of July commemorates 250 years since the signing of the Declaration of Independence in 1776, marking 250 years as an independent nation. Still a very short history when compared to many other nations, but nonetheless, an amazing story of freedom and accomplishment. The US easily has the worlds largest GDP in the world at $28 trillion. There’s something about our structure and the constitution that inspire and allow individuals and groups to do big things. Perhaps this is why Warren Buffet has said that he prefers to keep the majority of his capital in America. Somebody asked him why, to which he responded “because its the best place to invest”!
The Dow Jones Industrial Average (The Dow) started in 1896, and initially it had just 12 companies in it. It has 30 now. It started out at just $41, and now it trades at the highest level it ever has at $52,000 or thereabouts, which is 1268 times higher. If we look back just 50 years ago to 1976, which was the Bicentennial, The Dow was trading at just $1,000. It’s amazing what time and pressure can do.
Someone once said to me that the stock market goes up more than it goes down, otherwise it would of been at zero a long time ago. They were right. In America that does indeed seem to be the case. Investors that buy quality diversified stock investments and then just leave it alone, seem to do the best on average.
The country has been through a lot, and many wonder….. is the spark still there? You bet it is, and it’s alive and well. The latest proof of this is SpaceX, where Elon, and now the public shareholders are taking the US economy to outer space. Some like to say that the best is behind us. I really doubt that. The economy is growing, and opportunity exists like it never has before. Things are changing, that is true, and we have to change with it or be left behind. But the American dream is still alive, in my opinion, bigger and better than ever. So if you have a dream, keep that dream alive. Keep on dreaming and keep on fighting. Nobody said it would be easy, it’s not, but it is possible, and that’s the key. Freedom and the possibility to achieve. That’s the secret sauce that makes this country so amazing!
May God bless all of you, and may God bless the United States of America!
Mike,
PS: I will be out of the office next week visiting the wonderful Black Hills and Mount Rushmore during this special event. Please call the office for assistance. Thank you