Morgan Stanley: Which comes first — the asteroid or NASDAQ 5,000?

Steve Galbraith of Morgan Stanley is out with an amusing (sad to say!) research report this morning about which might come first: an asteroid hitting earth in 2019 or the NASDAQ returning to 5,000.

Given our view that investors can now expect
6ˆ8% returns from stocks over the long run, it got us thinking.
Which would happen first, the asteroid slamming into
Earth or the Nasdaq returning to 5,000. Believe it or not,
the asteroid could win ˜ with a year to spare. If the
Nasdaq compounds at 8% off recent levels, it will not reach
5,000 again until around 2020.

Oh well, !

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