I think the basic assumption about the impact of the baby boomers is correct, but where Harry went wrong is that he encapsulated the "message" by focusing exclusively on the sharemarket. If he had said that assets, viz average share prices and average property values, will quadruple by 2008, then he will probably be right. Unfortunately he said words to the effect that the Dow Jones will go from 10,000 to 40,000 by 2008. What he didn't properly explain was that in some years real estate will go up, and down, likewise the share market. Together, over the period 2000 - 2008, the combined value will quadruple. His thesis is correct; it was the catchphase that was wrong.