Latest Blog: Mismatch - 03/20/2023
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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 FALLPublished: 11-11-2014
Between 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 ARTICLE
Bankers have always had a bad rap. Cicero, writing in De Officiis in 44 BCE, referenced Cato the Elder, the great Roman ...READ MORE
An interesting graphic from Ken Leech of Western Asset showing that spreads in Bondland this year are pretty much ...READ MORE
Picking Up the Pace 08-28-2015
Lost amidst the market turmoil this week were a number of reports of a strengthening US economy. Consumer confidence ...READ MORE
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