Warren Buffett recently said that the Dow Jones Industrial Average will get to 1,000,000 in 100 years. To be fair, he said “over” 1,000,000.
That may sound incredible, but he was actually being conservative.
Yesterday, the Dow closed at 22,761.07. To get to 1,000,000 it will need to grow by 3.855% per year for the next 100 years.