This was the popular Business Week Cover on August 13th, 1979. It was titled "The Death of Equities...How inflation is destroying the stock market." The Dow Jones industrial average was at 840 (today it is 12,437!). In 2000, John C. Bogle wrote a book about Common sense on Mutual Funds, in it he covers the Press and it's poor market timing. Celebrities know all too well about the problem with the untruths told by the press. The real problem is that popular beliefs sell magazines, and then the average person reads it and believes it (if it's in the news it MUST be true)...ahem Fox News anyone? Anyway, Business Week gets it wrong: "Business Week said Sell when the Dow Jones Industrial Average was at 840, and Buy after it had climbed to 1200. Yet two years after the buy recommendation, in May 1985, the Dow still languished at about 1200. ", but they aren't the only ones:

[Photo from Yahoo! Finance]

This week's Business Week cover focuses on the Housing Meltdown. It's titled: "MELTDOWN...for housing, the worst is yet to come.", and focuses on the housing prices that will be falling significantly in the coming years. I, however, am ever the optimist, and looking at the magazine's record of forecasts, I wouldn't start panicking...yet.