What the experts say

Dow 1,000?; Condos on the mend; What’s mine is mine

Dow 1,000?

Recent market volatility has made “plenty of investors” nervous, even bearish, said Jeff Sommer in The New York Times. But market forecaster Robert Prechter is “in another league entirely.” Using a combination of technical analysis and social theory, he predicts that we’re entering a market decline of “staggering proportions” in which the Dow could fall from its current, near-10,000 mark to “well below 1,000 over perhaps five or six years.” His advice for investors: Find shelter in cash and cash equivalents and, if you can stomach the risk, short the market. In 2008, Prechter correctly predicted that the market would rally; then in late 2009 he warned a decline would resume. Though he’s “hardly the only market hand to advocate prudence,” other naysayers foresee only months—rather than years—of declines ahead.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us