Is the Stock Market a Lot of Bull?

In the spring of 1998, when James K. Glassman and Clive Crook argued about whether the market’s robust performance indicates real economic health or simply a speculative frenzy, the Dow Jones industrial average had climbed to about 9,100. Last February, when Bill Fleckenstein and Dave Kansas debated whether the stock market is a bubble, the Dow was hovering at around 9300. Less than a year later, it’s inching upward of 11,000. When will the bubble burst–if it bursts at all? Read the two debates–and check on which predictions have come true since.