Announcement

Collapse
No announcement yet.

This day in financial history

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • This day in financial history



    Learn what happened in business in today’s past


    December 03:


    1999: Exactly one month after closing above 3000 for the first time, the NASDAQ Composite Index breaks the 3500 barrier, finishing the day at 3520.43.

    www.nasdaq.com

    1998: Temco Service Industries, a tiny building-maintenance firm, becomes one of the oddest beneficiaries of the Internet stock bubble. Temco's shares, which trade so infrequently on NASDAQ's OTC Bulletin Board that they often don't budge for a week at a time, go bonkers, soaring 126% in a few minutes on record volume. The reason: Ticketmaster Online-City Search Inc. goes public today under the ticker symbol TMCS, which some traders confuse with Temco's ticker symbol TMCO. Sheepishly unwinding their mistake, traders drive Temco down 11% by the close of the day, while Ticketmaster soars 188%. This is what finance professors, with no sense of irony, call an "efficient market."

    The Wall Street Journal, December 4, 1998, p. C1.

    1984: In one of the worst industrial disasters in modern history, a Union Carbide pesticide plant leaks a lethal cloud of methyl isocyanate gas into the midnight breezes blowing through the residential alleyways of Bhopal, India. In the days and weeks to come, some 3,800 people will die from exposure to the toxic gas, and thousands more will suffer permanent disabilities. Union Carbide later sets up a $470 million compensation fund for the victims. By early 2001, Dow Chemical has acquired Union Carbide for $7.3 billion, and the provincial government in Bhopal is eagerly soliciting new investment by chemical manufacturers.

    The Wall Street Journal, February 12, 2001, p. A17; http://www.bhopal.com/

    1777: The U.S. borrows money from a foreign government for the first time, as the Continental Congress authorizes Benjamin Franklin and Silas Deane, the American commissioners to France, to obtain a loan of 2 million pounds from the French monarchy.

    William G. Anderson, The Price of Liberty: The Public Debt of the American Revolution (Univ. Press of Virginia, Charlottesville, VA, 1983), p. 4.
    Last edited by CollinPalmer; 12-03-2019, 07:59 AM.

Disclaimer: There is a risk of loss in trading futures, forex and options. Futures, forex and options trading are not appropriate for all investors. Only risk capital should be used when trading futures. All information is for educational use only and is not investment advice. Past performance is not indicative of future results.

This website is hosted and operated by AMP Global Clearing, LLC ("AMP"), which provides brokerage services to traders of futures and foreign exchange products. This website is intended for customer support, educational and informational purposes only and should NOT be viewed as a solicitation or recommendation of any product, service or trading strategy. No offer or solicitation to buy or sell derivative or futures products of any kind, or any type of trading or investment advice, recommendation or strategy, is made, given, or in any manner endorsed by AMP and the information made available on this Web site is NOT an offer or solicitation of any kind. The content and opinions expressed on this website are those of the authors and do not necessarily reflect the official policy or position of AMP.

All Users and Contributors along with their websites, products and services, are independent persons or companies that are in no manner affiliated with AMP. AMP is not responsible for, do not approve, recommend or endorse any User and/or Contributor Content referenced on this website and it’s your sole responsibility to evaluate All Content. Please be aware that any performance information provided by a user and/or contributor should be considered hypothetical.

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

AMP has NOT endorsed or recommended the use any product, services offered by any 3rd party User or Contributor on this forum. No person employed by, or associated with, AMP is authorized to provide any information about any 3rd party User or Contributor content. All specific brokerage related questions should be directed towards AMP.

Copyright © 2017. All rights reserved.

Working...
X