Posted by: Howard Silverblatt on December 12, 2008
GM was the largest U.S. company in 1928, with $3.55 billion in market value, up from $2.40B in 1927, when it was also #1
Their current (trade) market value is $2.05B; yesterdays close was $2.52B
XOM (yesterday, $407B) is currently #1 in market value (in the S&P 500), with 5.40% of the index weight, the first issue to be over 5% since IBM in 1985 ($95.6B)
XOM wasn’t directly around in 1928 (Sherman Antitrust Act), but some of the seven sisters were in the top ranks by market value - Standard Oil of NJ (Esso-> Exxon), CA, and NY
All 9 days this month have moved at least 1% (5 up, 4 down), and while we had 10 back in November, the record is 20 in Oct-Nov 1931
AND FOR TODAY - Over the last 60 trading days we have had 17 days of at least a 5% change (6 up, 11 down) in the S&P 500, over the prior 50 YEARS there have also been 17 (8 up, 9 down); exciting times we live in
And one last ‘crazy’ personal item. My 12 year old son wants to put some of HIS OWN MONEY into stocks. He says in 30 years some will make it and some won’t, but they should be worth a lot. He put together a list (also part of his school Stock Market game, gee these capitalists start early, even in the ‘liberal’ schools), and I am seriously considering the venture (I would have to pre-clear any trades).