WHAT A DEAL?
The Wall Street Journal has the right idea trying to come up with a list of gifts that don't cost that much but have a big impact. Number 12 in the list of a dozen ideas is certainly a timely one this holiday season*:
The stock exchange has one too – and right now it's piled to the ceiling with famous brand-name equities. Citigroup, Time Warner, News Corp. (publisher of the Wall Street Journal), Macy's, Goodyear, CBS, Sun Microsystems, Starbucks, Nordstorm, Whole Foods, Royal Caribbean. They're all less than $10 a share."
"Ten dollars is more than just a psychological barrier. Some institutional investors cannot invest in shares below $10 and some bond contracts require companies above that level.
Some other gloomy facts: only five S&P 500 companies had share prices of more than $100 on Wednesday.
So far this year, the S&P 500 has plunged 45 percent. It is now worth just over $7 trillion, the index's lowest collective market value in 11 years."
Talk about a Black Friday special to take advantage of on Thanksgiving week.