Happy birthday to the Dow Jones Industrials index $Dow Jones(.DJI)$ that just turned 129 years old last week It closed last week at 42,270.07, well above the 40.94 it started at 129 yrs ago despite spanish flu, 2 world wars, a great depression, a great financial crisis, a dot com crash , a global pandemic etc That’s over 103,000% capital gain and over 10% annualised return ( including dividends).ImageThe $Dow Jones(.DJI)$ a significant landmark in the financial world, has weathered 129 years of ups and downs. It started at 40.94 a century and a quarter ago and closed last week at 42,270.07.The $S&P 500(.SPX)$ ’s “birthday” can be traced back to March 4, 1957,
Mag 7’s Pricey But Promising: Would You Ride the Last 30%?
After a strong May, the current "Magnificent 7" trades at a 42x forward P/E ratio — still about 30% below the average peak valuation of past U.S. market bubbles (58x). Despite a surge in tech hedge fund buying last week, institutional exposure to the “Mag 7” remains at a five-year low. Now that the Mag 7 has rallied to new highs, should we stay bullish — or avoid chasing the last dollar? What does it signal when institutional exposure to the Mag 7 is this low? Should retail investors buy now and wait for institutions to chase the rally — or follow the “smart money” and stay cautious?
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