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I miss the good old days of the late 80s when the dow was at around 2,000. in 2007, Dow was over 14,000(a new high). Today, it's back over 13,000 and I'm dreading the possibility of a new record this decade. Rather than have it continuing to go up, I'd like to see it go back to 2,000, in a slow, gradual way.
What the average Joe who believes everything needs to keep going up fails to understand is this: The higher things go, the worse the correction. At least at 2,000, the Dow would be much more stable with less downward potential in the long run.
As long as the stock market grows and shrinks at the same rate as the economy, it is a legitimate reflection of the economy. It would only make sense to be at 2000 if the economy was decreased by 6/7ths.
The problem (or benefit if you are a clever market timer) is that the market moves as much by emotion as it does by being a true reflection of the economy.
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