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The Daily Dow LEXINGTON, KY. (August 22): Technology stocks has a solid day today, and the Blue Chips went right along for the ride. The market buzz is that surprising cuts in European interest rates helped the U.S. markets as well, but I don't know how far down that road I want to go.
Let's just say this: the DJIA picked up roughly three-quarters of a percent today, a good day by anyone's standards. Let's see... 0.75% every day, compounded for 260 trading days each year. That gives us an annualized return of nearly 600%!!!!! Wow, let's run out and start our own newsletter and advertise our amazing track record!
Uh, maybe not. We'll be happy with our 20%-plus returns from this Foolish beauty over the decades and head back out to the putting green, or the reading room, or the lake, whatever.
Whatever happens day-to-day, Fool, keep your eyes peeled on a different horizon from the one we sometimes trap ourselves into by writing about stock each day. Keep your focus ten, twenty, thirty years down the road. That's the best recipe for a happy retirement. Invest well and enjoy the rewards.
Transmitted: 8/22/96
Today's Dow Numbers
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