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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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Humans! What Are They Good For? 06-29-2017
It looks like the world is turning against humans. I've talked before about the rise of robots in manufacturing ...
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In A Hole 03-04-2016
Two months ago, I offered some hope that drop we saw on the first day of 2016 was a good omen for the rest of the month ...
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Money Matters 11-17-2014
When the Fed embarked on Quantitative Easing (QE), many prominent economists warned this would lead to hyperinflation ...
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