What a year it was – at least for the equities markets!
The DJIA surpassed the peak for 2007 and closed the year 2013 at 16,577.
The 2013 closing total was 26.5% above the close in 2012. It follows growth rates of:
- 5.9% in 2012
- 5.5% in 2011
- 11.0% in 2010.
The great crash of 2008 seems so far away.
Looking back…the DJIA peaked at 14,163 on October 9, 2007. Between then and December 31, 2013, the market rose by 2,274 points. This is an annualized rate of change of only 2.5%, slightly better than the rate of inflation.
Suddenly 26.5% doesn’t sound so good, but thank goodness it happened!
©Copyright 2011 by CBER.