Podcast
Prof G Markets
Ed Elson referenced the book during a discussion about market forecasts, noting that it had argued equities were vastly undervalued and projected the Dow would more than triple by 2004. He highlighted that the prediction was made just before the dot‑com crash and that Fortune later labeled the title the most spectacularly wrong investing book ever. The overall tone was critical of the book's accuracy and relevance.
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This book, co-authored by Kevin Hassett in 1999, argued that equities were significantly undervalued and predicted the Dow would more than triple by 2004. It was later described by Fortune as the "most spectacularly wrong investing book ever" after the market subsequently cratered.
Around this time, in 1999, Hassett co-authored a book called Dow 36,000, The New Strategy for Profiting from the Coming Rise in the Stock Market.
The book argued that equities were significantly undervalued and predicted that the Dow would more than 3x by 2004. Ironically, this came out right before the dot-com implosion.
And the book was ultimately described by Fortune as the, quote, most spectacularly wrong investing book ever.