Thursday, February 05, 1998
S&P Hits 1,000!
by Rick Aristotle Munarriz
([email protected])
S&P 1,000!!! You are probably seeing that headline all over this week -- in the biggest, baddest boldface font the media can stamp down on printed page. You have to believe Newsweek is scrambling right now to find the best original artwork of a charging bull. The talented matador artist is looking for a new line of work -- this week.
Yes, the S&P 500 hit 1,000, but excuse me as I cover my mouth to politely contain my yawn. It is not to belittle the incredible force of the stock market or the chance to recount the historical riches that have been made. No. That is always something worth applauding. The success of a weighted index, where 500 of the finest publicly traded companies have risen above, in concert, is always special. But, why cheer 1,000?
Did you ever have a car whose odometer hit 100,000? Odds are you were driving by Aunt Edna's Crab Shack or just pulling up to pick up some dry cleaning. It was just another day in automotive living. Maybe you took the time to smile and reflect but you were certainly not at your intended destination.
Pete Rose didn't hang up his cleats when he got his 1,000th hit. Nope. He went on to swing past 2,000, then 3,000 -- and tacked on a few more after that for good measure. Milestones matter, that first dollar your company made is probably framed in glass, but only as a springboard to greater milestones and to bigger and better dollars.
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