Wharton Business School Professor Jeremy Siegel has always been considered one of America's leading "bulls," a stock market optimist who argues that over time the market will always give you the best return on your investment.
Siegel's thesis was believable enough in the 1990's, when Americans from all walks of life were making a killing sitting in front of their computer screens buying and selling stocks.
But since that high moment, the dot-com companies whose high stock prices drove much of the '90s boom have faded away. The American economy has been faltering and the world as a whole has been plunged into the kind of uncertainty that the markets hate.
Many Americans are concerned about the future of Social Security and skeptical of their employers' 401-K programs. But since the economic slowdown and September 11th, the stock market doesn't seem like an appealing choice either.
This hour, Jeremy Siegel discusses the state of the stock market today. The risks are greater, he says — but the market still remains the best long-term investment. Is this blind optimism or sound economic thinking? Where are you investing your money?
Jeremy Siegel, Russell E. Palmer Professor of Finance at the Wharton School of Business
This program aired on May 6, 2002.