Jan
25

The Dow’s Record Rise Sends a Former Wall Street Stock Broker Back in Time

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This photograph of my graduating class of fellow stockbrokers, taken on Dec. 18, 1981, at the World Trade Center headquarters of Dean Witter Reynolds, shows that “customer’s man” was still a fairly accurate term even when I entered the industry. (I am seated on the floor in the front row, fifth from left.)…

Dow 20,000 is just a number, it’s true. But for me, a 35-year veteran of the financial world, the Dow Jones industrial average’s recent climb to a new five-digit peak sent me back in time.

I returned to January 4, 1982, the day I began my short but illuminating career as a Wall Street stockbroker.

On that day, the Dow Jones, an average of 30 blue-chip stocks that are industry leaders, closed at 882.52. Not 8,000. Eight hundred…

The Dow’s Record Rise Sends a Former Wall Street Stock Broker Back in Time

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