Bonds are now extraordinarily overvalued and stocks are undervalued, stocks are extremely likely to outperform bonds over the next decade or two. The Dow Jones industrial average is likely to reach 20,000 during that time — and probably within the next five to 10 years

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From "New York Times" article "The Long-Term Argument for Dow 20,000" :

My own view and comment : Stocks may be climbing the "Wall of Worry" in the next days, and we may be placed for a long prolonged Bull Market. If this starts before the November 6 Presidential Election then Wall Street will be happy and grudges against President Obama may be greatly diminished.

Other indicators may also be pointing to the start of a Big Bull Market : Big Liquidity, Slow but steady Economic Growth, House Values touching a bottom, Home debts are decreasing fast, etc...

The Biggest Bull Markets are NOT announced with trumpets before they start, they are unexpected and caught many investors with their pants down or heavily invested in bonds and other things that are not going to rise in value.

The stock market in the final year of an incumbent president is a Wonderful Excellent Predictor of Reelection.

We are in a time of extraordinary unjustified pessimism, the Media is full of Cassandras forecasting doom, "wailing and gnashing of teeth", everybody is preparing for the end of the world.

"Over 10-year periods since 1900, stocks have outperformed bonds 75 percent of the time. But today, bond prices are relatively low — their yields, which move in the opposite direction, are extraordinarily low."

I am not a Wall Street Expert or Operative, only a fool that reads lots of pages about Investment and the History of Markets.

New York Times
"Your Money" section
The Long-Term Argument for Dow 20,000
By JEFF SOMMER
July 21, 2012

The Long-Term Argument for Dow 20,000



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