Dow Will Hit 36,000, Er, Sometime

The author of the book Dow 36,000—which predicted massive stock market growth—still believes the market will hit that astronomically high number—but he's not saying when. OK, maybe a "calmer title might have been better," for his 1999 tome, James K. Glassman conceded in a Washington Post interview.

Glassman is unapologetic to people "creamed" by his investment advice, and notes that "people should be in stocks for the long term." He does have one regret—he predicted that the Dow would reach 36,000 in no more than five years, which passed in 2004. He still stands by the number, "but I'm not going to tell you what date," he said. (More Dow Jones stories.)