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It even exist? At the rate technology is proceeding, I’ll be surprised if stock exchanges are around 10 years from now, much less in 200 years. Happy 200th Anniversary New York Stock Exchange. Enjoy it while you can because you probably won’t have many...
Because the world is currently experiencing one of its worst bear markets since the Great Depression, there is an even greater need to study past bull and bear markets to make long-term decisions about investing in the stock market. Information on bull...
Global Financial Data has the most extensive database on historical stocks available anywhere in the world. GFD has collected data on stocks that listed on the London Stock Exchange from the 1600s until 2018. London was the financial center of the...
The Vereenigde Oost-Indische Compagnie (VOC), or the United East India Company, was not only the first multinational corporation to exist, but also probably the largest corporation in size in history. The company existed for almost 200 years, from its...
The Vereenigde Oost-Indische Compagnie (VOC), or the United East India Company, was not only the first multinational corporation to exist, but also probably the largest corporation in size in history. The company existed for almost 200 years from its...
The Company of Proprietors of the Grand Junction Canal was incorporated by Special Act of Parliament on April 30, 1793 to build a canal from Braunston to the River Thames. The stock for the canal went through three bubbles, in the 1790s, the 1810s and...
With Google and Priceline surpassing $1000 (much less Berkshire Hathaway A shares trading at $175,000), people are amazed that stocks can trade at such high levels without being overvalued or losing liquidity, but in reality, compared with the past,...
Because of the breadth of data that Global Financial Data provides in its UK and US Stock Database, providing data from 1601 to 2018, GFD runs into problems of coverage that no other database encounters. Today, stocks trade thousands or even millions...
This is the third in a series of blogs we are writing about global bear markets that have occurred over the past 400 years. Global Financial Data has calculated a World Stock Index that covers equities from 1602 until the present. The index included...
The equity-risk premium (ERP) is one of the most important variables in finance. It tells investors how much a risky investment such as stocks returns relative to a risk-free investment such as government bonds. Any history of the equity premium shows...
Global Financial Data has produced indices that cover global markets from 1601 until 1815 as a first step toward creating a World Index that provides data on equities from 1601 until 2018. As we have discussed in another blog, “The Fifth Financial Era:...
Apple is fast approaching a market capitalization of $1 trillion. Their current market cap is about $900 million and an 11% increase in their stock price will make Apple the first $1 trillion company. It was only back in 1970 that the capitalization of...
I visited Cuba a few weeks before Castro passed away, and my visit to Cuba not only provided me with the opportunity to see a country frozen in time with American cars from the 1950s acting as taxis and a vision of what a country without any...
I met Chris while I was a broker. As everyone knows, brokers are salesmen who happen to deal in the stock market. It is better to know nothing about the stock market and be a good salesperson than to have twenty years’ experience in the stock market...
Bear markets are clearly defined: a decline of 20% or more in an equity market constitutes a bear market. By this definition, the United States had 18 bear markets in the 1900s. But what is a bull market? Global Financial Data (GFD) has supplemented...
The equity risk premium, the rate by which risky stocks are expected to outperform safe fixed-income investments, such as US government bonds and bills, is perhaps the most important figure in financial economics. The equity risk premium is the main...
The Twentieth century may be remembered as the century of excess. In every area, more things were done in the Twentieth century than in any other century in history, and in many cases, more than in all previous centuries combined. The Twentieth century...
RETURNING TO THE GOLD STANDARD IN FIVE EASY STEPS You hear a lot of people in the United States talking about returning to the Gold Standard today. With trillion-dollar annual government deficits, a declining dollar, and fears of inflation, many people...
Global Financial Data has generated indices on the United States and the World Index excluding the United States since 1792. This enables us to compare the performance of stocks in the United States with the rest of the world over the past 225 years....
Global Financial Data has calculated the market cap of the United States stock market from 1791 until 2018. These calculations include not only the New York Stock Exchange, American Stock Exchange and NASDAQ, but regional exchanges, such as...
Today, the future of energy prices is as uncertain as ever. Whereas in the 1970s, there was a fear that the supply of oil could decline dramatically, causing future oil prices to rise, fracking and other technological innovations have increased oil...
Fear is powerful. Especially when it comes to the economic forces in the world and tied to our quality of life. This basic concept is pertinent to not only those in first world countries, but maybe even more so to people in developing nations. When the...
Jacob Little was the first and one of the greatest speculators on Wall Street. He engineered the first successful stock corner on the New York Stock Exchange in 1835, and was known as “Ursa Major,” or “the Great Bear of Wall Street.” Like any bear, he...
One question I often receive about the data for the Germany is why the German stock and bond indices had a 90% decline in June 1948. At first, people think there is an error in the data, but German shareholders actually did lose 90% of their capital as...
The government is running a large deficit and it can’t cover its expenses. The government debt exceeds the GDP of the country. The central bank’s balance sheet is exploding as the government buys its own debt. Sound familiar? This was France in 1719....
UNIVERSAL CURRENCIES In January 1999, members of the European Union introduced a single currency, the Euro. In 2002, the Euro will replace national currencies, and each country’s currency will cease to exist. It is our belief that within the next ten...
The Dow Jones Utility Average (DJUA) is both the youngest of the three Averages calculated by Dow Jones and the most stable. During its 78-year existence, there have only been three major reorganizations of the index and only 40 companies have been...
Investors allocate their assets into different classes both to reduce risk through portfolio diversification and to increase returns by changing these allocations. Financial assets have traditionally been divided into stocks, bonds and bills;...
The Stock Market Crash of 1929 had a dramatic impact on the primary stock market indices as prices declined. The Dow Jones Industrial Average declined from 381.17 on September 3 to a low of 198.69 on November 13, a decline of 48%. The S&P Composite...
Argentina is one of the most interesting countries among emerging markets. Argentina was one of the ten richest countries in the world in the 1920s, but now doesn’t even make the top 50. Argentina was downgraded from emerging market status by MSCI to...
Many people believe that Abraham Lincoln was the greatest President of the United States. Not only did his steadfast leadership help the United States to survive the Civil War, but as President he pursued his vision of a united country, free from...
What lessons can we learn from the behavior of the world’s financial markets in the 20th Century that are useful to investors in the 21st Century? In our Guide to Bull and Bear Markets and our Guide to Total Returns, we provided a survey of the returns...
Using a data set on government debt that was previously unavailable, the article analyzes who bears the burden of government debt. The database includes 12 countries with both debt and GDP data on the countries stretching back over a century. The paper...
Global Financial Data has produced indices that cover global markets from 1601 until 2018. In organizing this data, we have discovered that the history of the stock market over the past 400 years can be broken up into four distinct eras when economic...
BARACK OBAMA HAS BEEN ELECTED president of the United States in the midst of the worst financial crisis in decades. Economic stimulation has been intense: The Troubled Asset Relief Program has used up $350 billion, and credit facilities from the...
“Genius is a Bull Market.” John Kenneth Galbraith A partial list of articles that tell a story made possible by the data GFD provides.
Global financial Data has calculated an index for Emerging Markets that far precedes any indices that are currently available. MSCI’s emerging market index begins in 1987. GFD’s Emerging Market Index begins in 1602. Though few people may realize it,...
The Great Bull Market of 2009 to 2019 continues to push the stock market to new highs. The capitalization of the New York Stock Exchange and NASDAQ is now about $37.5 trillion which is equal to 174% of America’s Gross Domestic Product. If the market...
Our comprehensive financial databases span global markets offering data never compiled into an electronic format. We create and generate our own proprietary data series while we continue to investigate new sources and extend existing series whenever possible. GFD supports full data transparency to enable our users to verify financial data points, tracing them back to the original source documents. GFD is the original supplier of complete historical data.