The market keeps flirting with milestone of S&P closing at 7,000 and Dow at 50,000

quote:

---

Doesn't make a whole lot of difference to me. I'd rather the S&P go over and stay over the 7,000 range and keep increasing.

---

I don’t have enough of it yet so I’m fine either way

quote:

---

I don’t have enough of it yet so I’m fine either way

---

If you don't have much money in the market then you should be hoping for a market crash.

quote:

---

My father in law tells a story of being at some kind of chamber of commerce meeting when he was young and they had a financial advisor come give a talk. At the end someone asked "Do you think the Dow will ever hit 1000?" The advisor said "Not only will it hit 1000, but it will hit 2000 too".

---

About 10 years ago at the Berkshire Hathaway annual meeting someone in the audience asked Buffett during his traditional Q & A segment of the meeting, "Warren, where do you think the Dow Jones will be in 100 years?"

Buffett replied, "Somewhere around 1,000,000 give or take a few thousand."

The audience laughed, thinking Buffett was being his usual humorous self.

He then went through the numbers from memory. (I probably have some margin of error here trying to remember his calculations but the principle holds.)

He said that in the first 100 years of the DJ it rose an average of around 2%/year compounded, including the massive pullbacks in 1929-1930, the 1987 crash and the "Great Recession of 2008/2009.

He said from where the DowJones was that day of the meeting, to get to 1,000,000 on the DJ in 100 years, the DJI would have to increase an average of 1.9% compounded.

He smiled and told the audience, "It's entirely doable in 100 years barring a nuclear war , a massive worldwide epidemic or a comet or asteroid hitting our planet."

quote:

---

Jinx

---

Maybe “tease” would have been better than the word “flirt” today. LOL

quote:

---

If you don't have much money in the market then you should be hoping for a market crash.

---

I’ve got a decent amount in the market just not a lot in S&P. I am buying it every week in my 401k.