Other Notable Events
In Case You Miss It
Yesterday was my birthday, one I share with a U.S. president, several musicians, novelists and other notable historical figures. And one that I might share with you.
Statistically speaking, all you need is a group of 23 people to have a 50% chance that two people have the same birthday. With about 160,000 Cabot Wealth Advisory subscribers, that means that several thousand were probably born yesterday. If so, I wish you a very happy birthday!
Today, you'll meet others who share your birthday. If your birthday wasn't yesterday, I hope you'll still enjoy the following wealth advisory and even learn some fun facts to share with your friends and family.
It's also the anniversary of Victory in Europe Day, which occurred on May 8, 1945, when the World War II allies formally accepted Nazi Germany's unconditional surrender.
In the U.S. on V-E Day, then-President Harry S Truman (born on May 8, 1884) dedicated the day to the memory of his predecessor, Franklin Delano Roosevelt, who had died on April 12 of that year. Scholars have often placed Truman, the 34th president, on their lists of the greatest U.S. presidents. Truman is credited with popularizing phrases such as "If you can't stand the heat, you better get out of the kitchen" and "The buck stops here," which was featured on a plaque Truman kept on his desk.
Other notable May 8 birthdays:
1911: Robert Johnson, an American blues musician, who is often referred to as the "Grandfather of Rock 'n' Roll." Eric Clapton once called Johnson "the most important blues singer that ever lived." Johnson was credited with having influenced musicians such as Bob Dylan, Jimi Hendrix, Led Zeppelin, Muddy Waters and The Rolling Stones. Johnson is an inductee of the Rock and Roll Hall of Fame and ranked #5 on Rolling Stone magazine's list of 100 Greatest Guitarists of all time.
1926: David Attenborough, the English naturalist, has been the face and voice of British natural history programs for more than 50 years. He famously narrated the "Planet Earth" series (British version) in 2006 and for presenting the nine "Life" series, which collectively form a comprehensive survey of all terrestrial life.
1926: Don Rickles, the American comedian and actor who frequently appeared on the "Tonight Show Starring Johnny Carson." Although Rickles is a lifelong Democrat, he performed at the inaugurations of Republican Presidents Ronald Reagan and George H.W. Bush with his friend Frank Sinatra. Rickles considers the comedian Bob Newhart to be his best friend.
1937: Thomas Pynchon, the American novelist known for his avoidance of personal publicity. Pynchon wrote the novels "V." (1963), "The Crying of Lot 49" (1966), "Gravity's Rainbow" (1973), "Vineland" (1990), "Mason & Dixon" (1997), "Against the Day" (2006) and "Inherent Vice" (2009). Pynchon is the winner of the National Book Award and a frequent contender for the Nobel Prize in Literature.
1940: Toni Tennille, the American singer most famous for being one-half of the Grammy-winning duo Captain & Tennille. The group won a Grammy for Record of the Year for their cover of Neil Sedaka and Howard Greenfield's "Love Will Keep Us Together." Tennille married "Captain" Daryl Dragon on November 11, 1975.
1943: Paul Samwell-Smith, British bassist in and founder of The Yardbirds, a 1960s English rock band that spawned music greats like Jeff Beck, Eric Clapton and Jimmy Page. Samwell-Smith went on to become a successful producer, with credits including the most successful albums of Cat Stevens, Jethro Tull and Carly Simon. Samwell-Smith was inducted to the Rock and Roll Hall of Fame as a member of The Yardbirds in 1992.
1951: Philip Bailey is an American R&B, soul, gospel and funk singer, songwriter and percussionist, best known as one of the longtime members of Earth, Wind & Fire. Together with Verdine White, B. David Whitworth, and Ralph Johnson he forms the heart of the current Earth, Wind & Fire line-up on stage. He has a rare four octave vocal range.
1953: Alex Van Halen, is the Dutch-American drummer and co-founder (with his brother Eddie) of the hard rock band Van Halen. Originally, Van Halen's brother Eddie had taken drum lessons, while Alex practiced guitar. After spending time playing Eddie's drum kit, Alex became more skillful at the drums than Eddie. In 1974, Alex, Eddie, David Lee Roth and Michael Anthony became known as Van Halen. They were signed to Warner Brothers in 1977 and released their first album in 1978.
1975: Enrique Iglesias is a Spanish singer, songwriter, model and actor. Iglesias has sold more 60 million albums worldwide, has had two Billboard Hot 100 #1s and one #3, and holds the record for producing 19 number #1 Spanish-language singles on the Billboard's Hot Latin Tracks.
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Also on May 8 ...
1846: The first major battle of the Mexican War was fought at Palo Alto, Texas, resulting in victory for Gen. Zachary Taylor's forces.
1886: Atlanta pharmacist John Styth Pemberton invented the flavor syrup for Coca-Cola.
1968: Jim "Catfish" Hunter of the Oakland Athletics pitched a perfect game against the Minnesota Twins in Oakland. Hunter also drove in three of the Athletics' four runs.
1970: the album "Let It Be" by the Beatles was released.
1978: David Berkowitz pleaded guilty in a Brooklyn courtroom to the "Son of Sam" killings.
1984: The U.S.S.R. pulled out of the Los Angeles Olympics only 12 weeks before the Opening Ceremony was set to begin. In 1980, the U.S. and more than 60 other countries boycotted the Moscow Olympics.
I searched for notable stock market, economic or financial events that occurred on May 8, but could find very few.
The Panic of 1837 (actually on May 10) was built on a speculative fever in the United States. The bubble burst on May 10, 1837, in New York City, when every bank stopped payment in specie (gold and silver coinage). The Panic was followed by a five-year depression, with the failure of banks and record high unemployment levels.
The Panic of 1873 (on May 9) was the start of the Long Depression, a severe nationwide economic depression in the United States that lasted until 1879. It was precipitated by the bankruptcy of the Philadelphia banking firm Jay Cooke & Company on September 18, 1873, following the crash on May 9, 1873, of the Vienna Stock Exchange in Austria. It was one of a series of economic crises in the 19th and early 20th centuries.
The Dow Jones Industrial Average was founded in the month of May and originally represented the average of 12 stocks from important American industries. Of those original 12, only General Electric remains in the index.
Also in the month of May, we find the origin of the New York Stock Exchange. It can be traced back to May 17, 1792, when 24 stockbrokers signed the Buttonwood Agreement outside 68 Wall Street in New York under a buttonwood tree.
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In case you didn't get a chance to read all the issues of Cabot Wealth Advisory this week and want to catch up on any investing and stock tips you might have missed, I have links below to each issue.
Cabot Wealth Advisory 5/4/09 - What Do Your Stocks Know About You?
On Monday, Paul Goodwin wrote about why it's important to forget regret when investing in the stock market, especially when buying and selling stocks. Paul also wrote about how individual stocks don't know you own them, but the stock market as a whole does know when a bunch of buyers have built positions. Paul finished by discussing an old winner that's been breaking all the rules. Featured stock: Apple (AAPL).
Cabot Wealth Advisory 5/7/09 - How to Sell Stocks Profitably
On Thursday, Timothy Lutts wrote about how to sell stocks profitably after receiving a letter from a reader who's earned some nice profits since the March market low. Tim discussed the future of the automobile industry and wrote about an attractive little automobile stock. Featured stocks: Netflix (NFLX), Sturm, Ruger (RGR), Myriad Genetics (MYGN), Brinks Home Security (CFL), Green Mountain Coffee Roasters (GMCR), American Superconductor (AMSC), Volkswagen (VLKAY), Daimler (DAI), Honda (HMC), Toyota (TM), Tata Motors (TTM).
Until next time,
Editor of Cabot Wealth Advisory
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