It’s taken me months to organize all of my research for my next book project; it’s a lot of stuff, some dating back to 2000. Much of it reflects the bad ideas and numbers, and worse advice, that float around Wall Street. A lot of it has not aged well.

But every now and then, something I saved turned out to be prescient — not because it was lucky, but because it contained a well-considered insight that has stood the test of time. Such was the case with a Justin Fox article “9% Forever?” in the December 26, 2005 edition of Fortune (their annual investors guide):

“In May 1974, in the depths of the worst bear market since the 1930s, two young men at a University of Chicago conference made a brash prediction: The Dow Jones industrial average, floundering in the 800s at the time, would hit 9,218 at the

Keep reading this article on Barry Ritholtz - The Big Picture.

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