1 million call - 1 trading day from the SnP top, i remember somebody arguing with me when i called that extreme optimism,..<<
BB, Mr. Templeton was saying that might happen "in this century", i.e. within the next 100 years. Everyone here will be long dead by the end of this century. Furthermore, Mr. Templeton is 87 yrs old himself, so what does he care if what he speculated might happen comes true or not. Another final thing which signifies that what he said is meaningless, is he hedged his pridiction by saying 1 mill on the Dow was a "better than even" chance, based on extrapolation of where the Dow was in 1900 and where it is today in 2000.
Think of what the world was like in 1900..the internal combustion engine was barely invented, the avg person got around by horse and buggy, no airplanes, no telephone (or barely invented), no radio, no television.
No spaceships, no man on the moon...no atomic bomb.
In 1900, the world's industries ran on steam power. Nobody can do anything more than daydream about what the world will be like in another 100 years..much less predict where the DOW will be. |
