As you listen to the nitwits and propagandists on CNBC and the rest of the captured MSM expound about the NEW HIGHS being reached by the stock market, keep in mind one inconvenient fact:
S&P 500 Level on March 24, 2000 – 1,527
S&P 500 Level on January 29, 2013 – 1,507
For the math challenged, the stock market is still lower than it was 13 years ago.
Jeremy Sigel wrote his book Stocks For the Long Run in 1999 and he was on Bloomberg TV yesterday predicting further stock market gains. I’m sure he’ll be right this time.