The Pleistocene Pain of Dow 18,000

In July 2013, I made my “Dow 5,000″ prediction that the Dow Jones Industrial Average would hit 5,000 before it hit 20,000. I have written about the macroeconomic and asset market events since my prediction.

Today, I focus on the psychological aspects. How do I feel 18 months after calling for Dow 5,000? Bad. In fact, very bad in a way that may be of more than personal interest. In the spirit of the late Rodney Dangerfield, how bad do I feel? So bad that I have trouble sleeping. So bad ...

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