The first post was titled “Hirsch’s WTF Forecast: Dow 38,820” and filed under the category “Really, really bad calls.” (I’ll mea culpa if we come anywhere near 30,000 by 2025). I thought my old pal Jeff had lost his mind.
But then I spoke with Jeff. He explained his reasoning. He sent me his fathers infamous 1977 500% call. I ended up doing a new post “War & Peace + Inflation + Secular Bull = Dow 38K ?” The more I looked into it, the more it seemed like an ingenious piece of history repeating.
I became impressed enough the methodology that I agreed to write the forward! I have no idea if we will see Dow 38820 in 2025, but the thesis is both intriguing and defendable . . .
Some notable reviews follow:
“As someone who views the investment glass half empty, I would normally treat a forecasted price target for the Dow Jones Industrial of 38,820 as hyperbolic and outlandish. That is, unless the forecaster is Jeff Hirsch! Jeff is ‘bred in the purple’ and has royalty in his investment blood as his legendary dad, Yale Hirsch, was the dean of all technical analysts (and was the first of his kind to accurately predict the roaring Bull Market of 1974-1990). More importantly, Jeff’s rationale for another super boom is well articulated in his own unique set of facts, figures and dissection of history. To every serious investor I say, Read Super Boom or Perish!”
-Douglas A. Kass, President, Seabreeze Partners Management Inc.
“Jeff Hirsch delivers a 500% effort in Super Boom. Unless you’re closed minded or comatose there is a lot, lot more here than any investment reader can normally hope for. The visuals and data alone are worth many times the price.”
-Ken Fisher, Founder and CEO, Fisher Investments, Forbes “Portfolio Strategy” Columnist, 5-time New York Times bestselling author
“Super Boom reminds the reader of the power of compounding. DJIA 38,820 by 2025 might sound like an outrageous level, but the implied sub-9% compound annual growth rate (following a decade of decline) makes the target appear more attainable. Within these pages, Jeff demonstrates that he has learned a lot from his father and has inherited the reputation as a renowned and respected market historian.”
-Sam Stovall, Chief Investment Strategist, Standard & Poor’s Equity Research
“As a kid I taught Jeff how to catch big rainbow trout in Montana. In Super Boom, he’s returned the favor by showing us how to catch a monster stock market move. A must-read book.”
—Larry Williams, trader
Chapter 5 excerpt after the jump