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Dow at 1000

5228 Views 4 Replies 5 Participants Last post by  mfd
I was watching BNN's "Bear Attack" found it very interesting, there was a prediction by Ian Gordon, he predicted the dow would fall to 1000 and Gold will reach $4000!!!

I was just astonished by this prediction that would mean about 6700 drop in dow which is an 87%!

Any views on this prediction?
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I'm only certain of one thing. If Ian Gordon's predictions don't come true, nobody will question him on that. If it does come true, he'll attain guru status and untold articles will praise his predictive abilities.

I couldn't care less about these predictions. The Dow is a made up index anyway and serious investors care more about the S&P 500. I doubt we'll see the S&P 500 at 100 unless we are expecting complete anarchy.
Although current earnings are diminuishing, is it even possible for them to fall to such a level that the DOW would hit 1000.

Most diversified conglomerates now generate 30-50% of earnings abroad, so even if the all mighty US consumer stops spending (as is currently the case) - I believe there's enough demand in other markets to prevent such a dramatic decline.

I personally think a more likely scenario is an extended period of no growth.
The only time I would even care about these predictions is if he put on explosive collar which would blow his head off if his prediction is off by 10%. :D
I really hate these guys. They are only as right as their last prediction.
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