Dow 20,000: Your Gift for Living Through Brexit and the Election
- The average covers 1,000 points at the 2nd-fastest rate ever
- Investors who held steady were rewarded in a turbulent year
The Dow Jones Industrial Average Surges Past 20,000
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Thinking too hard about investing doesn’t get you anywhere, wrote Jesse Livermore, legendary trader of the Roaring ’20s. To make the really big money, you just need to “be right and sit tight.”
Rarely has Livermore’s advice been harder to take than in the last 12 months. Between the worst start to a year ever, the violent reversals of last March, then Brexit and the U.S. elections sending stocks into the biggest tailspins since the flash crash, almost everyone lost their nerve at some point. Now, with the Dow Jones Industrial Average sailing past 20,000, the virtues of patience, of tuning out the crowd, are on display once more.