Thursday, November 20, 2008

‘Dow 30,000 by 2008’? That’s a good one

For the investor in your family, a humorous book for Christmas might lift their spirits. Amazon.com has many, such as “Dow 30,000 by 2008” by Wall Street pundit Robert Zuccaro. Published in December 2001, the book predicted that the Dow Jones Industrial Average would climb to 30,000 and the Nasdaq Composite would exceed 6,000 by the year 2008.
As of Thursday the Dow was at 7,552.29 and the Nasdaq was at 1,316.12.
Not a big enough missed prediction? Then how about “Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market” by James K. Glassman and Kevin A. Hassett. Published in October 1999, shortly before the dot-com bubble burst, it predicted that the Dow would rise to 36,000 within a few years.

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