Dow 40,000!

  • A pundit argues that the S&P can double in five years, or sooner; we kick the tires of the reasoning behind this.
  • One part of the argument seems actually reasonable – the flattened and elongated business cycle – although even then we think his prediction is a stretch.
  • It’s the second part of the reasoning with which we have the most problems. For starters, it contradicts the first part.

Dow 40,000 | Seeking Alpha