Gadgets, lab surprises, odd bets, and future-shocks from this slice of the calendar.
The Sounds of
Popular recordings and roots/country selections associated with the year
HEADLINES ON October 9, 2002
Full News Archive
- Headline: HSBC Acquires Stake in Ping An Insurance. Impact: HSBC's investment in Ping An Insurance was the financial equivalent of buying a lottery ticket—everyone thought it was a smart play at the time, but in hindsight, it may have just been a gamble that could have led to a series of unfortunate financial Tinder dates.. Fact: HSBC once tried to rename itself to ‘Hugely Secure Bank Corporation’ to attract more customers. Spoiler alert: it didn’t work..
- Headline: Market Place; A Car Shipper Sold Shares; S.E.C. Implies It Sold Illusions. Impact: The SEC's revelation about ACLN Ltd. was the classic case of the 'Emperor's New Clothes' in finance, leading to a wave of corporate mistrust that eventually resulted in everyone starting to keep their money under their mattresses instead.. Fact: You know things are bad when even the auditors start to question the existence of your company—next they’ll be asking if your dog really ate your homework..
Wall Street Time Machine
NFLX
Netflix
Netflix - If you invested $1,000 in 2002, it would be worth $785,671 today (785.7x return)
AAPL
Apple
Apple - If you invested $1,000 in 2002, it would be worth $779,032 today (779.0x return)