Comments on: Dow 7,100 http://www.ritholtz.com/blog/2009/02/dow-7100/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 07:16:03 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Mark E Hoffer http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148095 Mark E Hoffer Tue, 24 Feb 2009 10:33:38 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148095 May 11, 1997 Deep Blue beats Kasparov IBM's supercomputer Deep Blue makes chess history by defeating Gary Kasparov, the chess champion widely regarded as the greatest who has ever lived. The Russian master conceded defeat after 19 moves in the sixth game of the tournament, losing the match 2.5 to 3.5. It was the first defeat of a reigning world champion by a machine in tournament play... http://www.history.com/this-day-in-history.do?action=Article&id=4993 http://www.icerocket.com/search?tab=web&fr=h&q=big+blue+beats+kasparov controversy aside, a big splash in the AI pool, if not in other ponds.. May 11, 1997

Deep Blue beats Kasparov
IBM’s supercomputer Deep Blue makes chess history by defeating Gary Kasparov, the chess champion widely regarded as the greatest who has ever lived. The Russian master conceded defeat after 19 moves in the sixth game of the tournament, losing the match 2.5 to 3.5. It was the first defeat of a reigning world champion by a machine in tournament play…

http://www.history.com/this-day-in-history.do?action=Article&id=4993
http://www.icerocket.com/search?tab=web&fr=h&q=big+blue+beats+kasparov

controversy aside, a big splash in the AI pool, if not in other ponds..

]]> By: Douglas Watts http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148078 Douglas Watts Tue, 24 Feb 2009 05:21:15 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148078 In 1997 the Boston Red Sox looked as far from a World Series victory as they had since they sold Babe Ruth to the Yankees. In 1997 the Boston Red Sox looked as far from a World Series victory as they had since they sold Babe Ruth to the Yankees.

]]> By: How the Common Man Sees It http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148076 How the Common Man Sees It Tue, 24 Feb 2009 05:15:23 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148076 Also, back then fair market value for gold was said to be $600. Now the number is pegged anywhere between $2500 and $5000 Also, back then fair market value for gold was said to be $600. Now the number is pegged anywhere between $2500 and $5000

]]> By: CPJ13 http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148075 CPJ13 Tue, 24 Feb 2009 05:13:37 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148075 Right out of the TA textbooks, check out a 20 year weekly chart of the SPX. Think we'll make it all the way back to 450? Uuuuugly. Right out of the TA textbooks, check out a 20 year weekly chart of the SPX. Think we’ll make it all the way back to 450? Uuuuugly.

]]> By: How the Common Man Sees It http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148074 How the Common Man Sees It Tue, 24 Feb 2009 05:12:23 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148074 On the flip side gold was $250 and people were mocking gold bugs that gold never gave you a return on your investment. I was a gold bug back then. I am more just a gold fan now. One thing we always heard about was the bottom indicator dow/gold ratio which is supposed to hit 1:1. When gold is sitting at $250 and the dow is in the 1xxxx area it does sound absurd and impossible. Even to a gold bug. I no longer believe it is impossible now that the ratio is closer to 7:1 and we haven't even begun to panic yet @Douglas Watts Says: February 23rd, 2009 at 8:49 pm <i>In 1997 nobody thought we’d have a black president in 2009.</i> No, but no one was ruling out the possibility of a female one. She ended up being Secretary of State instead @Bruce in Tn Says: February 23rd, 2009 at 9:09 pm <i>The world “greatest” investor down from 147000 to 75600..</i> I guess Mr. Buynhold is proving that sometimes it can be better to be a trader. If he'd sold half at the top he would own almost twice as many shares by buying back in today(not including taxes of course which is his reason for holding) ....and Diana's death was ten years ago huh? I won't go so far as to say that changed me but my life took a definite turn when that happened On the flip side gold was $250 and people were mocking gold bugs that gold never gave you a return on your investment.

I was a gold bug back then. I am more just a gold fan now. One thing we always heard about was the bottom indicator dow/gold ratio which is supposed to hit 1:1. When gold is sitting at $250 and the dow is in the 1xxxx area it does sound absurd and impossible. Even to a gold bug. I no longer believe it is impossible now that the ratio is closer to 7:1 and we haven’t even begun to panic yet

@Douglas Watts Says: February 23rd, 2009 at 8:49 pm

In 1997 nobody thought we’d have a black president in 2009.

No, but no one was ruling out the possibility of a female one. She ended up being Secretary of State instead

@Bruce in Tn Says: February 23rd, 2009 at 9:09 pm

The world “greatest” investor down from 147000 to 75600..

I guess Mr. Buynhold is proving that sometimes it can be better to be a trader. If he’d sold half at the top he would own almost twice as many shares by buying back in today(not including taxes of course which is his reason for holding)

….and Diana’s death was ten years ago huh? I won’t go so far as to say that changed me but my life took a definite turn when that happened

]]> By: gregh http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148068 gregh Tue, 24 Feb 2009 04:30:59 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148068 As a fresh collegiate graduate in '97 I began contributing to my 401K and IRA As a fresh collegiate graduate in ’97 I began contributing to my 401K and IRA

]]> By: TheReformedBroker http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148067 TheReformedBroker Tue, 24 Feb 2009 04:24:54 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148067 the more interesting question is, should oil prices tag along down to mid 90's prices (mid teens-low 20's?) i know i know..... CHIIIIIINNNNAAAAA whatever blechhh TRB the more interesting question is, should oil prices tag along down to mid 90′s prices (mid teens-low 20′s?)

i know i know….. CHIIIIIINNNNAAAAA

whatever

blechhh

TRB

]]> By: Simon http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148066 Simon Tue, 24 Feb 2009 04:08:39 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148066 Last time we looked over the edge the market did not even pause to make its way directly to the most obvious target. The 2001 lows. This time, me thinks, there will be a variation on the theme i.e. the odds are lower that the same thing will happen also there is no longer an obvious target down there. Last time we looked over the edge the market did not even pause to make its way directly to the most obvious target. The 2001 lows. This time, me thinks, there will be a variation on the theme i.e. the odds are lower that the same thing will happen also there is no longer an obvious target down there.

]]> By: Marcus Aurelius http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148065 Marcus Aurelius Tue, 24 Feb 2009 04:08:23 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148065 Top 10 hits of 1997: 1. Candle In The Wind 1997, Elton John 2. Foolish Games / You Were Meant For Me, Jewel 3. I'll Be Missing You, Puff Daddy and Faith Evans 4. Un-Break My Heart, Toni Braxton 5. Can't Nobody Hold Me Down, Puff Daddy 6. I Believe I Can Fly, R. Kelly 7. Don't Let Go (Love), En Vogue 8. Return Of The Mack, Mark Morrison 9. How Do I Live, LeAnn Rimes 10. Wannabe, Spice Girls Top 10 hits of 1997:

1. Candle In The Wind 1997, Elton John
2. Foolish Games / You Were Meant For Me, Jewel
3. I’ll Be Missing You, Puff Daddy and Faith Evans
4. Un-Break My Heart, Toni Braxton
5. Can’t Nobody Hold Me Down, Puff Daddy
6. I Believe I Can Fly, R. Kelly
7. Don’t Let Go (Love), En Vogue
8. Return Of The Mack, Mark Morrison
9. How Do I Live, LeAnn Rimes
10. Wannabe, Spice Girls

]]> By: mcrcr4 http://www.ritholtz.com/blog/2009/02/dow-7100/comment-page-1/#comment-148064 mcrcr4 Tue, 24 Feb 2009 04:01:29 +0000 http://www.ritholtz.com/blog/?p=19942#comment-148064 "....I wish to God I didn't know now, The things I didn't know then." Poison, "Something To Believe In", from somewhere around that time, I think. My memory ain't what it once was. We all need something to believe in, just be careful what it is. Best regards, RF “….I wish to God I didn’t know now,
The things I didn’t know then.”

Poison, “Something To Believe In”, from somewhere around that time, I think. My memory ain’t what it once was.

We all need something to believe in, just be careful what it is.

Best regards,
RF

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