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September 1963: The floor of the New York Stock Exchange. In 1963, U.S.News & World Report quoted William H. Gassett, vice president and economist for Eaton & Howard of Boston. "We are still in a growth economy, and there is nothing earth shaking about the statement that sometime the Dow Jones average will hit 1000, because someday the stocks in the average will be earning $50 a share and perhaps will be selling at a multiple of 20 times earnings. That's just normal process. We wouldn't have the faintest idea when that will happen, and exact timing, but we are bullish for the long term."
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