1920s / 1930s / 1940s / 1950s / 1960s / 1970s / 1980s / 1990s / 2000s

The dawn of the 21st century brought the end of the Internet bubble of the late nineteen nineties.

During 2000, 2001, and 2002, the stock market’s excesses began to be worked out, causing painful losses in technology and other growth-oriented stocks. Earnings and fair valuation came back into favor.

During this time, the US economy slipped into recession. The technology sector in particular was plagued by overcapacity, but companies in other sectors also saw their earnings drop significantly, and many shed jobs. The economy was dealt a further blow by the terrorist attacks of September 11, 2001.

The longest bear market since the 1940s continued into 2002 as investors digested news of unethical and, in some cases, illegal accounting and corporate governance practices at some leading corporations. Even as the US economy showed signs of recovery, the stock market remained volatile. In late 2002 and early 2003, the market was further unsettled by severe geopolitical tensions surrounding the ongoing terrorist threat and the lead-up to war in Iraq. By March 2003, coalition military forces had entered Iraq, and the stock market seemed to anticipate a resolution to the conflict. This combined with increasingly positive economic news and improving corporate earnings contributed to 2003’s strong performance for equities.

On January 12, 2004, Tri-Continental Corporation proudly celebrated the 75th anniversary of its establishment. Throughout this time, Tri-Continental has seen history-making changes in the economy and the stock market. By focusing on the long term and holding a steady course through variable markets, Tri-Continental has endured.

While no one knows what the future holds, there is comfort in knowing that while times change, values endure. And Tri-Continental remains an investment you can live with.