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The Daily Dow
LEXINGTON, Kentucky (December 26) -- Despite the relative youth of the online medium and the popularity of The Motley Fool, one point of which we're ever aware is that what we teach isn't new by any means. Our basic tenets of fundamental research, patience, and discipline have been useful principles for centuries, even before the creation of our current stock markets. One such Foolish point in particular was driven home forcefully for me yesterday when I stole a few moments of quiet time during the Christmas chaos and read a section from one of America's most Foolish of forefathers, Benjamin Franklin. The following passage comes from his "Advice to a Young Tradesman," penned in 1748. His point, though, is equally appropriate for investors today who should always keep an eye toward opportunity costs and compounded growth. "Remember, that time is money. He that can earn ten shillings a day by his labor, and goes abroad, or sits idle, one half of that day, though he spends but sixpence during his diversion or idleness, ought not to reckon that the only expense; he has really spent, or rather thrown away, five shillings besides. Remember, that credit is money. If a man lets his money lie in my hands after it is due, he gives me the interest, or so much as I can make of it during that time. This amounts to a considerable sum where a man has good and large credit, and makes good use of it. Remember, that money is of the prolific, generating nature. Money can beget money, and its offspring can beget more, and so on. Five shillings turned is six, turned again it is seven and three-pence, and so on till it becomes an hundred pounds. The more there is of it, the more it produces every turning, so that the profits rise quicker and quicker. He that kills a breeding sow, destroys all her offspring to the thousandth generation. He that murders a crown, destroys all that it might have produced, even scores of pounds." Fool on! (Don't forget, entries for January's Thoroughbred Stock Challenge are due by the opening bell on January 2. Don't miss out.) Today's Dow Numbers Stock Change Bid ------------------- DD +1 1/4 97.00 CHV + 1/2 66.00 MMM + 1/2 85.25 EK +1 81.88 IMN + 1/8 30.25
Day Month Year History
FOOL-4 +0.90% 4.40% 32.08% 32.08%
DJIA +0.37% 0.38% 27.94% 27.94%
S&P 500 +0.64% -0.32% 22.71% 22.71%
NASDAQ +0.54% 0.15% 23.04% 23.04%
Rec'd # Security In At Now Change
1/2/96 142 DuPont 69.88 97.00 38.82%
1/2/96 149 3M 63.76 85.25 33.71%
1/2/96 380 Chevron 52.38 66.00 26.01%
1/2/96 148 E. Kodak 67.00 81.88 22.20%
7/16/96 14 Imation 26.16 30.25 15.64%
Rec'd # Security In At Value Change
1/2/96 380 Chevron 19902.50 25080.00 $5177.50
1/2/96 142 DuPont 9922.25 13774.00 $3851.75
1/2/96 149 3M 9500.09 12702.25 $3202.16
1/2/96 148 E. Kodak 9916.00 12117.50 $2201.50
7/16/96 14 Imation 366.21 423.50 $57.29
CASH $1942.85
TOTAL $66040.10
Transmitted: 12/26/96
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