-
-
-
-
CIO Insights are written by Angeles' CIO Michael Rosen
Michael has more than 35 years experience as an institutional portfolio manager, investment strategist, trader and academic.
RSS: CIO Blog | All Media
How The Mighty Fall
Published: 11-11-2014Between March 2000 and October 2002, the NASDAQ Index fell 75%, from over 5,000 to under 1,300. Of course, valuations were beyond silly at the peak, and I confess, following the collapse, I thought my children might one day see the index surpass its previous high.
Well, 12 years later, the NASDAQ is within 10% of its 2000 high. It’s not there yet, and it’s been a long slog to recovery, but it’s getting there.
The chart below, from Barron’s, shows the largest constituents then and now. The top 5 in 2000 still around, but 6-10 have all disappeared, either acquired or taken private. A good reminder how hard it is to stay on top.
Print this ArticleRelated Articles
-
25 Aug, 2015
Jolt
Two weeks ago (13 August, No Panic (Yet)) I noted that the renminbi devaluation was officially described as a modest ...
-
8 May, 2024
Beach Reading
I'm happy to go to the beach year-round, but it's now really becoming beach weather, so I have five new book suggestions ...
-
16 Sep, 2016
Give Us Your Poor
A large percentage of energy expended at Angeles is in evaluating, analyzing and judging investment managers. It is a ...
-