An Historic Oddity – The Dow Passes the Nikkei (December 2002)
On November 14, 2002 the Dow Jones Industrial Average closed at 8,542.73, higher that Japan’s Nikkei 225 Index. (8,503.39 that day) At one time the gap between the indices was more than 36,000 points. When the Dow and the Nikkei crossed in November, they closed a gap that seemed impossible in the 1980’s. In the investment world shocking events occur and sound investment practice recognizes that planning only for what seems likely today is a recipe for disappointment. Instead, recognize that the greatest opportunities, and greatest risks often lie in the places they seem least likely today.