America at 250: The History of Wall Street

In this special Fourth of July edition of The Generational Investors, host John Woodard III celebrates America's 250th birthday with the story of the American stock market, from its humble birth under a buttonwood tree on Wall Street in 1792 to the global powerhouse it is today. As the nation marks 250 years of independence, John walks through the founding of the New York Stock Exchange, the original handful of securities that started it all, and the oldest company still trading today, one founded by Alexander Hamilton before the Constitution was even ratified. Along the way he marks the milestones that shaped modern investing, including the creation of the Dow Jones Industrial Average in 1896 and the rise of the S&P 500, and shares a series of striking then-and-now comparisons. How many millionaires America had at its founding versus today, how stock ownership went from a privilege of the few to a habit of the many, and what a single share of the nation's oldest stock would be worth if it had never split. It is a story of resilience, growth, and the long arc of American prosperity, fitting for a nation turning 250. John's Weekly Pick this week: a reverse osmosis water filter.