After nearly 49 years at Standard & Poor’s, Howard Silverblatt has retired, reflecting on a remarkable career that began when the S&P 500 hovered around just 99.77 points. By the end of his tenure, the benchmark index had skyrocketed to 7,000, an increase of 70 times its original value during his first days on Wall Street back in May 1977. The Dow Jones Industrial Average also experienced a dramatic rise, moving from the 900s to surpassing 50,000 points just a week after his retirement.
Silverblatt, considered a legend in the finance sector, is renowned for his analytical insights, making him a trusted resource for financial journalists and investors alike. He has witnessed the evolution of the market through various economic cycles, including significant booms and challenging busts. Speaking to CNN from Florida, he shared valuable lessons drawn from his extensive experience in the industry.
One of Silverblatt’s key pieces of advice for investors is to thoroughly understand their investments and the associated risks. While the number of publicly traded companies has decreased since the 1970s, the array of financial instruments available has exploded, introducing complex options such as exchange-traded funds (ETFs) and derivatives. He emphasized the importance of vigilance in portfolio management, especially during times when the stock market reaches record highs. According to Silverblatt, regular reviews of asset allocations are essential to stay aligned with one’s financial goals and risk tolerance.
Throughout his career, Silverblatt has observed significant transformations in market dynamics, largely influenced by advancements in technology and communication. Today, America boasts over ten companies valued at more than $1 trillion, with the majority being in the tech sector. He pointed out that while the Dow reaching 50,000 may seem significant, the percentage change is more critical than the numerical increase itself. For instance, the change from 49,000 to 50,000 represents a mere 2% rise—far less impactful than a 100% increase from 1,000 to 2,000.
Reflecting on market fluctuations, Silverblatt recounted his experience during Black Monday, the stock market crash of October 19, 1987, when the S&P 500 plummeted by over 20% in a single day. He humorously noted that he had managed to sell his investments just before the crash. Other pivotal moments in his career included the collapse of Lehman Brothers and Bear Stearns during the financial crisis of 2008 and the evolution of brokerage firms that democratized access to investment opportunities.
Silverblatt stressed that successful investing is about preserving wealth during downturns as much as it is about capitalizing during prosperous times. The growing reliance on 401(k)s and individual retirement accounts has shifted more responsibility onto individuals to manage their investment risks effectively. As of the second quarter of 2025, stocks and mutual funds represented an all-time high of 45% of American households’ financial assets, highlighting the importance of understanding risk management.
In retirement, Silverblatt looks forward to exploring new interests, ranging from literature—specifically the works of Shakespeare—to playing chess and engaging in local economic discussions. Despite not having previously played golf, he is considering taking it up. As he transitions from a demanding 60-hour work week to a more leisurely lifestyle, he plans to assist friends with market insights while indulging in his passions.
Silverblatt’s extensive career and profound insights underline the essential balance of knowledge, risk management, and continuous learning in navigating the complexities of the financial world.
