American Dream died with Dow 49,200 forecast
6:01 AM ET, 02/16/2013 - MarketWatch Databased News
SAN LUIS OBISPO, Calif. (MarketWatch) -- "New-Millennium Dow: 49,200 by 2013!" That was the headline for my early January 2000 column.
Interesting article at Market Watch, easy to forget where we have come from. A call for Dow 49k this year, back in 2000. The cover of Barron's, if we don't stop spending, we will be like Greece, in 22 years.
Now the best we hope for is low single digits for decades to come, the Gross new normal. You could imagine a case where the pendulum has swung too far to the negative, and that the future is not as dire as the headline makes out, we won't be Greece. I can imagine a scenario where the developments in energy might just change the economic outcome for the next few decades. The other mention in the article was Harry Dent, at the time, was forecasting a 41k Dow in 08, and now he's selling books on the coming Depression. Seems the move in gold may be the start of something different for a few years. Lessons, the future is unknowable and everything is cyclical, regressing to the mean, given enough time. I think I would rather be where we are now rather than where we were in 2000. Although that was fun, my Qualcom was up a mere 40x what I paid for it.
Lucent was pricedover $ 60. 00 per share, and today even after merging with Alcatel the alcaatel lucent price is less than $ 1.75.. In early 2000 on a CSCO board i suggested SHORTING CSCO when it was over a $ 100. i thought from the message board comment that they were coming after me with pitch forks.. Good investing.. don