December 12, 1999
High tech stocks, then and now
As you read this list, keep in mind that these are the "high tech" companies
that survived. Many, including high flyers like Auburn Automobile which hit
$514 per share, disappeared down the black hole of bankruptcy.
|Company|| || ||1929
|| ||1932 low|
Electric|| || ||403||
|| ||8 1/2|
Elevator|| || ||450||
|Warner Brothers|| || ||64 1/2
|| || ||1/2|
|Wright Aeronautical|| || ||149 1/2
|| || ||3 7/8|
|Int'l Combustion Eng.|| || ||103 1/2
|| || ||1/2|
Source: "The Ups - Downs" by David Freeman. Burlington, Vt: Fraser, 1997.
The 1920s marked the beginning in earnest of the electrical
hign rise buildings, motion pictures, aeronautics,and ubiquitous engines - all
cutting edge high tech with limitless market potential.
Obviously, these industries and their leading companies prospered in the
but the people who bought their shares when the stock market was looney -
did not appear it was to the most people then either - did not.
If you really, really want to own Internet shares, hang on. You'll be able to
get them for pennies on the dollar. In the meantime, use the Internet to advance your own business.
Update - June 21, 2000: This somewhat rudely named site is keeping track of all the
Internet crash and burn stories the news media is too lazy to report on. Reading it is a great reality check.
Fun fact: At the height of the Florida land boom (and Florida didn't go
one third of all working age adults in the city of Miami held a real estate