“Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.”
- Irving Fisher, Ph.D. in economics, Oct. 17, 1929
Those who forget history are doomed to repeat it.
...we only need about 10% annual compound growth in equities over the next decade to bring a 30,000 Dow within easy reach. We do a little better, and Dow 40,000 isn't out of the question, he reasons.
By Hal Plotkin
CNBC.com Silicon Valley Correspondent
Jan 23, 2001 06:22 PM