Lance Eads, vice president of economic development for the Springdale Chamber of Commerce, has good instincts.
He predicted the Dow Jones Industrial Average (DJIA) would close Dec. 28 at 12,901.17. He was off by just under 37 points, but close enough to win the final installment of the “Where’s the Dow Now?” contest.
Sponsored by Arvest Bank and managed by The City Wire, “Where’s the Dow Now?” provides the chance to prognosticate on the quarterly direction of the stock market and possibly win a little cash and support a favorite charity.
Eads won $150 for his picking prowess, and his charity of choice, the United Way of Northwest Arkansas, also collected $150.
Eads said he reviewed the past six months of DJIA activity and estimated how that might play out to end the year.
“I just estimated that range ... and where that (Dec. 28 close) might be within the range,” Eads said. “But it was really just some quick thoughts on that. Probably if I over thought it I would have completely missed the mark.”
However, Eads did shave some points from his initial prediction before submitting a final number.
“I pulled back the estimate based on uncertainty over the presidential election and what might follow that,” he explained.
Eads, who was presented his check on Feb. 14, said he would probably use his winnings to celebrate Valentine’s Day.
“Seeing that this is Valentine’s Day, I will probably do something nice for my wife and kids,” said Eads, who is the father of two children. “My wife has been wanting me to take her to the new Mary Maestri’s.”
Eads said he chose the United Way because the agency has “a far reach throughout the area.”
The United Way of Northwest Arkansas works with 67 partner programs and agencies, and has helped fund 75 programs. The United Way raised $3.8 million in 2011.
Mike Williams, vice president-resource development for the United Way of Northwest Arkansas, said the $150 would be used to help with the agency’s Education, Income and Health initiatives.
Considering Eads’ winning strategy, would Springdale Chamber President Perry Webb allow him to invest chamber funds?
“No,” Eads said quickly and with a laugh. “There is a lot of luck involved in something like that ... and I don’t think he (Webb) would risk that on luck.”