We've Come a Long Way, Baby!

Rebecca Gomez
October 6, 2006 You've come a long way, baby! That's what we've been saying a lot around here lately, as FOX News Channel celebrates its 10-year anniversary. You can also say that about the Dow Jones industrial average. It's been seven long, tumultuous years since the blue chips set a record-high close of 11,866.69, and the Dow surpassed that milestone by nearly 143 points on Thursday.

The Dow milestone is significant for Americans, not only because a majority of them are invested in stocks in some way (mostly through 401(k) retirement plans), but also because it's a psychological turning point for our country.

“To the average investor, it means the economy and the markets have finally gotten past all of the difficulties of the first half of this decade,” said Scott Bleier, president of Hybrid Investors and FOX News business contributor.

The Dow's previous high was set back on Jan. 14, 2000 — before the dot-com implosion, the 9/11 terrorist attacks, the recession, and the mega-corporate scandals of Enron and WorldCom. The Dow’s new all-time high kind of signals our recovery. Our mourning and healing time has come and gone. It's the start of new beginnings. We can let go. OK, maybe that's a bit dramatic, but the point is made all the same.

“This is a follow-through of sentiment indicating that people believe we have finally emerged beyond the travails of the dot-com meltdown and 9/11,” said Jeff Schwartz, an advisor with Hundredwatt Capital. “The Bush Administration and the Fed successfully negotiated some very challenging environments with sound tax and interest rate policy, and the market is voicing its approval.”

So does the record-high Dow mean it’s time to throw some cash into the markets? As most financial experts will tell you, any time is a good time to invest in stocks.

Dow all-time high or not, Scott Bleier says, “History shows that long-term, diversified and consistent stock investing provides the best long-term results.”