Deja Vu All Over Again As Stocks "Only Go Up"

In the late 1990s, pie-in-the-sky valuations and day-tradingâ??s speculative excesses were ignored because, in the long run, stocks always rose. A Dow Jones Industrial Average target of 36,000 was the exclamation point in James Glassmanâ??s book for all of us to read in late 1999 â?? just prior to the Nasdaqâ??s 75% decline.