A Stock Market’s Obituary
Monday, October 6th, 2008
By Michael Lombardi, MBA for Profit Confidential
It is with great sadness that we announce the passing of the Dow Jones Industrial Average. After a strong and courageous battle, the Dow Jones fell victim to a credit crisis and finally succumbed on Friday, October 3, 2008, when it fell decisively below the mid- point between its 2002 low and its 2007 high.
Cherished father of all those that raise money for their corporations, whether they needed the money or not, the stock market will be sadly missed by thousands of stockbrokers around their world who earned their livelihoods by peddling stocks. The stock market is predeceased by the U.S. housing market, which passed in 2005.
Special thanks to Hank Paulson, Secretary of the Treasury, and Ben Bernanke, the head of the Federal Reserve, for their talented efforts to save the market.
The Dow Jones Industrial Average began a great bull market when it rose from 7,286 in October 2002, almost doubling to 14,279 by October 2007. Many brokers and financers got rich during this bull market. We thank all the talented people on Wall Street for developing mortgage-backed securities for syndication, many of which are worthless today.
Private services will be held individually each night by all the stockbrokers, money managers, regular banks, investment banks and IPO lawyers who made their living selling stock or by taking companies public.
Donations may be made to the mortgage companies that own the brokers’ homes, their second homes in the Hamptons and their third homes in Florida.
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Tags: bull market, Dow Jones Industrials, federal reserve, U.S. housing market
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Michael bought his first stock when he was 17 years old. He quickly saw $2,000 of savings from summer jobs turn into $1,000. Determined not to lose money again on a stock, Michael started researching the market intensely, reading every book he could find on the topic and taking every course he could afford. It didn’t take long for Michael to start making money with stocks, and that led Michael to launch a newsletter on the stock market. Today, Michael only employs the top market analysts and editors. Some of our recommendations have posted gains in excess of 500%! Michael has authored and published over one thousand articles on investment and money management. Along the way to building Lombardi Publishing Corporation, now with over one million customers in 141 countries, Michael became an active investor in real estate, art, precious metals and various businesses. Readers of the daily Profit Confidential e-letter are offered the benefit of the expertise Michael has gained in these sectors. Michael believes in successful stock picking as an important wealth accumulation tool. Married with two children, Michael received his Chartered Financial Planner designation from the Financial Planners Standards Council of Canada and his MBA from the Graduate Business School, Heriot-Watt University, Edinburgh, Scotland.Follow Michael and the latest from Profit Confidential on Twitter



