Quote:
Originally posted by Lensman:
Damn I'm glad porn is recession-proof.
the dow is down 626 points right now. The Nasdaq is down 95.
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In '97 the Kipplinger Newsletter folks calculated the actual value of the companies being traded on the NYSE at 6500, meaning every point above 6500 was investor speculation. That was around the time the fed started warning about "the bubble".
Even if you discount Bin Laden selling short on sectors he's about to destroy (which is hard to ignore) we might be in an anti-bubble, ie: not enough growth signs to tease speculators into the game. If so, the market should sink to the value of the hard assets of the companies involved.
If we are just making public guesses, my guess would be 6500 + 4 years inflation adjustment - four jumbo jets. An unsteady decline to 7000.