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
high | |
| 1932 low |
| General
Electric | | | 403 | |
| 8 1/2 |
| Otis
Elevator | | | 450 | |
| 9 |
| 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
infrastructure,
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
long run,
but the people who bought their shares when the stock market was looney -
and it
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.
