Yes, we just endured the big blow here in the Washington, D.C., region, and we're still cleaning up. There's plenty more cleaning up going on for people invested in Washington-based companies.
The Washington Post Co.
With the exception of their D.C. operations, these companies have little in common. What they show as a group, though, is just how widespread the current rally in the stock markets is. Year-to-date, there are 32 companies whose share prices have more than doubled, with the leaders including World Airways
What I found unbelievable in this list was not only that more than 15% of all the companies had doubled year-to-date, but also that over the last six months, eight out of 227 companies had stock price declines at all, led by Versar
Frankly, this terrifies me. Even in the bubble of 1999, the stock market rise was the result of the meteoric performance of less than 25% of all stocks. That everything is going up shows -- to my mind -- that investors may not have shown much discrimination in a rush to get back in. We can only hope that companies' performances can match the renewed hope shown by investors.
Here in Washington, it's not just the rain-swollen Potomac that's rising apace.