Synopsis
Contrarian . . . controversial . . .
compelling . . . practical
This book will liberate investors from conventional wisdom and change the way everyone thinks about stocks and investing.
What's the message investors have been getting from media pundits and so-called market experts? "Stocks are in the stratosphere. . . . They're risky. . . . We're headed for a fall."
Jim Glassman and Kevin Hassett heard this message for years but wondered why the opposite kept happening. Instead of declining, the prices of stocks kept rising. Was financial gravity being defied, or were other forces at work? Were investors being frightened away from profits they could be enjoying from a market that will continue to boom?
Dow 36,000 is the result of Glassman and Hassett's investigation. It is one of the most important and provocative books on markets and investing written in recent years. Its original and compelling analysis and practical program for profiting from the continuing rise in the stock market are ideas that every investor--from neophytes to the most experienced--must understand and act on now.
¸ Stocks are undervalued, not overvalued. Stock prices will double, even quadruple, within a short period of time. The Dow Jones Industrial Average will soon reach 36,000. Astounding profits can be made, but the time to act is now! Dow 36,000 tells why this one-time rise is coming and how to adjust your portfolio and invest without fear.
¸ The perfectly reasonable price. Prices are too low because investors and Wall Street have been looking at stocks the wrong way: at valuation levels of the past (the traditional ceiling of the price/earnings ratio, for example). Dow 36,000 provides a new model--a new way of valuing the worth of any stock by figuring out how much money it will put in an investor's pocket.
¸ How to invest with confidence. Glassman and Hassett provide investors with a sensible strategy for making money by becoming a disciplined "36er." Their practical advice tells why many investors should not be active traders and why it's important to hold on to stocks and mutual funds even when they go into a downturn.
¸ A practical program to maximize your portfolio. Glassman and Hassett provide their picks for the best stocks and mutual funds, but just as valuable are their ideas on how to think about the kinds of stocks and mutual funds that will help earn the most money. Examples include not only such stocks as Cisco Systems, Microsoft, and GE, but many you may not have thought of, including Tootsie Roll and Biogen.
Investors have long needed a new way to understand what is happening in the stock market. Dow 36,000 provides that understanding. It is the new paradigm.
About the Author
ames K. Glassman, for many years a columnist for The Washington Post and host of the PBS show Techno-Politics, is currently financial columnist for the Reader's Digest and a fellow at the American Enterprise Institute. Earlier in his career he was the publisher of The New Republic and president of The Atlantic Monthly.
Kevin A. Hassett is a resident scholar at the American Enterprise Institute who formerly served as a senior economist at the Federal Reserve Board. He received his Ph.D. in economics from the University of Pennsylvania. He is the co-author, with R. Glenn Hubbard, of The Magic Mountain: Defining and Using a Budget Surplus.
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