Dow 36,000!

James K. Glassman, the author of the book Dow 36,000 was on CNBC just now, credibly discussing his 36,000 forecast.

This one is so obvious, I will not even comment, and instead ask you: What do you suspect this  might possibly mean?

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Dow_36000_1

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  1. Scott Frew commented on Sep 29

    What was Rudolph-Younes Riad’s brilliantly formulated description of investing in Barron’s a couple of weeks ago? A combination of dogmatism and pragmatism. I didn’t see the CNBC interview, but when the market crashed, these guys pragmatically lowered their profiles. Now that we’re closing in on the old highs, at least in nominal terms, they’re pragmatically reasserting the old dogma! I think they’re on to something this time. Dow 36000. With all that buying power sitting on the sidelines, with all those hedgies needing to make their years, and justify their existences, we get there by year end. First quarter 2007, latest.

  2. Dan Weber commented on Sep 29

    STOCK MARKET TOP! STOCK MARKET TOP!

  3. Bob_in_ma commented on Sep 29

    I’ll guess it means the producers at CNBC are in extreme short positions and getting a little nervous, and so they want to speed up the process…

  4. S commented on Sep 29

    It must mean the 2nd edition will be in a bookstore near you soon.

  5. Mark commented on Sep 29

    OMG, did you read the paean from Knight Kiplinger that this work is in the same league with Buffet’s homilies and Graham’s books! Did he use the word “altar”?

  6. lurker commented on Sep 29

    Never fear–Prechter has a new book out too, calling yet another top. Hurray, one year he may be right! But what a genius he has shown for top picking since 1987…
    I am actually bearish, but if Bob P. agrees with me I better reexamine my position, and positions. LOL.
    Thanks Barry.

  7. S commented on Sep 29

    BTW, I just don’t know how putting a short on for a trade here at the end of the day can be wrong.

    The market is overbought. ISM on Monday will be a lose/lose. If it’s too hot, inflation fears are raised and bonds sell off pulling equities down with them. If ISM is weak, they view it as supportive of the Philly Fed and people worry about slower growth. If it hits the mark, then they just take profits from this pimp rally the past few weeks.

    But then, someone once said that if something looks obvious in the market it probably isn’t. Even so, my bets are made.

  8. KB commented on Sep 29

    Barry,

    The greatest thing was watching you tell Joey B. that he was your contrarian indicator.

  9. Trent commented on Sep 29

    You laugh, but this guy is one smart cookie. By picking a very high hurdle he has given his book decades of shelf life. And then, when he is brought out as a centenarian to give interviews when the mark is finally made he will say, “I predicted this years before anyone else did.”

    My forecast: Dow 1,242,355,392.

  10. TRJ commented on Sep 29

    CNBC is such a joke anymore.

    Josh

  11. Craig commented on Sep 29

    And they say they don’t ring a bell at the top!

    There’s your sign……

  12. Michael A commented on Sep 29

    Anybody see the Kiplinger’s story today? They’re saying 12,070 on the Dow by year end and 13,000 by year end 2007. Kiplinger’s reason for this prediction is that the U.S. is in for a soft landing because rates WILL remain low and housing is just cooling off. Must be nice to see the future through rose colored glasses.

  13. Dimitre Chtilianov commented on Sep 29

    No comment needed indeed. For the uninitiated, click on the link to go to amazon and read few reviews… ;-)

  14. GerryL commented on Sep 29

    How do I get an autographed copy?

  15. Dr. Dreyfuss commented on Sep 29

    I remember attending an investing conf in Chicago back when that Glassman book was popular and he was considered a guru.
    Some of us in the audience questioned his assumptions, and were booed by the the other 99% who were drinking this charlatans kool-aid.

  16. Robert Coté commented on Sep 29

    On the shelf right next to my Jun 2005 Time cover about the wonders of home appreciation.

  17. Greg Feirman commented on Sep 29

    Has Ben Stein written a “How Not To Ruin Your Life” column about Glassman yet? Poor guy.

  18. bob commented on Sep 29

    But I feel jalous – why in heck those guys are invited to CNBC? This is very unfair to hundreds of other smart people who write good books or maintain interesting websites.

    How come TV just doesn’t dump those Glassmans into oblivion, never mention them and never answer their calls?

  19. Alex Khenkin commented on Sep 29

    Opps, sorry about that – I didn’t expect the links to look so ugly across the page…

  20. tjofpa commented on Sep 29

    Maria, get the party hats and ballons ready…

    and line up that guy who wrote DOW 36,000 for an interview.

    Posted by: tjofpa | Sep 20, 2006 3:35:42 PM

    They’re definetly reading your’re blog Barry…
    and maybe … gulp… spying on u?

    YOu gotem worried!

  21. mh497 commented on Sep 29

    You know what really has me worried?

    No “The Super Duperity Depression of 2007” by Ravi Batra.

    Now I know we’re *&^%$#!!

  22. V L commented on Sep 29

    Dow 3600…. Amazing how history is repeating itself all over again.
    I have to admit it. It was so tempting and I could not resist. I took some short positions today after watching James K. Glassman on CNBC.

    “Barry, The greatest thing was watching you tell Joey B. that he was your contrarian indicator.”
    This was one of the best memorable moments of Kudlow Show. Joe’s facial expression was definitely a bonus. His face was like the poor thing was about to cry.

  23. tjofpa commented on Sep 29

    and on the free Briefing.com site today…

    Tech Sector Gets a Raise: Check out our Industry Insight page to find out why we’re upgrading our opinion on the Technology sector from Market Weight to Overweight.

    …while downgrades this week to X (monday) and NEM
    (wednesday) may have marked a bottom.

    You just gotta love this stuff.

  24. KirkH commented on Sep 29

    Glassman may be right. But minium wage will be $120/hour if he is :) The problem for housing is that prices went up faster than inflation but wages didn’t keep up with inflation, and home prices are based on wages (with the exception of bubbles).

    If the so called experts are saying home prices will be flat for 5 years the only explanation would be wage inflation.

  25. John F. commented on Sep 29

    Did the Dow really hit 36,000 today? Rats! I knew I shouldn’t have gone to the gym this afternoon!

  26. Michael C. commented on Sep 29

    >>>Battapaglia getting cautious in July helped me do some long side trades . . .<<< Freaking Joe B. I missed that indicator. We need to make some kind of Bullwinkle Composite Indicator of Battapaglia, Cramer...who else?

  27. patski commented on Sep 29

    Look out below….. no, wait, it’s opposite contrarian day…. full steam ahead……

  28. Blissex commented on Sep 29

    «The problem for housing is that prices went up faster than inflation but wages didn’t keep up with inflation, and home prices are based on wages (with the exception of bubbles).»

    Yes and no, it could well be that there has been a permanent transfer of purchasing power from wage earners to asset owners. After all the number of potential wage earners has increased a lot (immigration, globalization) but not as much the number of real estate assets.

    But I doubt that the whole increase in price will be a straight transfer of purchasing power.

    «If the so called experts are saying home prices will be flat for 5 years the only explanation would be wage inflation.»

    That’s Bernanke’s Choice: shall he apply a harsh Volcker Squeeze to kill the economy and save the dollar, or a nice Greenspan Put to inflate away debt and real interest rates?

    For now the political situation says the latter.

  29. Mark commented on Sep 30

    Mr. Perma-Bull says: “Okay, we realize you guys aren’t buying off on the Goldilocks scenario and our soft landing theme isn’t gaining any traction so we’ve got a new one for you! The “hard soft landing”! Now can we take the Dow to record highs? Please, pretty please?

    http://money.cnn.com/2006/09/28/news/economy/bumpy_landing/index.htm

  30. me commented on Sep 30

    Glasman’s problem is he shot his credibility with that tome. Who listens to him anymore except CNBC?

  31. Kimmunications commented on Oct 11

    10-11-2006: Items of interest for the Family CFO

    Investing And Retirement In an effort to shore up U.S. workers’ retirement savings, the Labor Department has proposed new rules making it easier for companies to automatically enroll employees in 401(k) and other retirement plans. Retirement policy thi…

  32. New York Real Estate commented on Feb 22

    Might be interesting to read the book… I’ve read all the books by the Motley Fools, and they are really good, highly recommended. I’ll have to check this one out.
    Eric
    New York Real Estate

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