Dow 20K – Halfway There
Jeff Miller | May 08, 2013 12:15AM ET
Three years ago I wrote one of my most controversial posts: Dow 5000 and the "bull" saying that stocks will go up 8% this year! Is it any surprise that watchers are scared witless?
Investors need to understand that they are missing more than an 8% move. Stocks will double. When will they get on board? Do they have a plan?
The Proposition
Let us attempt to restore some balance.
There is undue publicity given to Dow 5000. A 50% decline has happened only twice in history. The first time was in the Great Depression. The second time was when people incorrectly believed that the fall of Lehman would lead to another depression. As we now know, that was incorrect. March, 2009 was a buying opportunity. What about now?
Here is the proposition. The Dow will double before it is cut in half."
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