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Investment Insights are written by Angeles' CIO Michael Rosen
Michael has more than 30 years experience as an institutional portfolio manager, investment strategist, trader and academic.
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.
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QE Impact? 10-31-2014
QE3 (the policy, not a new Cunard ship) was launched 2 years ago and ended this week. The expanded it balance sheet by ...
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"Everything Human is Pathetic" 11-18-2022
This is what comes to my mind as I watch the debacle that is FTX imploding.Most legal documents and court filings are ...
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Party Like It's 1999? 06-12-2015
Some observers point to the eye-popping valuations for companies with little revenue (WhatsApp, e.g., bought by Facebook ...
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