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Nasdaq 4000 — This Time It's Different?
Hugh Pickens DOT Com writes, quoting USA Today "The NASDAQ has topped 4000 for the first time in 13 years, but much has changed since then. ... Tech investors in 2000 were right about the possibilities of the Internet and mobile computing. But they were dead wrong about which companies would be in the vanguard ... The recovery of the NASDAQ has been a complex tale of creative destruction, where old companies that once fueled the index have been pushed aside by new players. Back in 2000, Microsoft, Cisco Systems, Intel, Oracle, and Sun accounted for 8.9%, 8.5%, 7.1%, 3.6% and 2.6%, respectively, of the value of the NASDAQ composite. Today, companies that were just starting out or didn't even exist — think Google, Amazon, and Facebook — are in the top 10, accounting for 4.7%, 2.7% and 1.5% of NASDAQ's value. Microsoft, Cisco and Intel's weight has fallen sharply. Apple, which wasn't in the top 10 in 2000, is a behemoth at 7.9%. So is the NASDAQ enjoying a long overdue catch-up with the rest of the market, or is the broad market overpriced, with the NASDAQ being pulled along for the ride? 'The reality is that the only thing that's the same from Nasdaq 4000 in 1999 and Nasdaq 4000 in 2013,' says Doug Sandler, 'is the number 4000.'"
You voted for it, enjoy!
In honesty, anyone in the stock market is making a killing because the Fed is printing $85 Billion a month and that is where it is going. No, I did not typo the amount. Its wrong, its generational theft, but you seem to think they are stealing from you but they are stealing from your kids in reality. Its unethical, but that's the stance of the DNC, and on top of that they put in a healthcare law that will also force those kids we are already robbing to pay for older people's (who just benefited from the stock market increase) health care. I've tried to explain it to people, but they insist on voting for it.
There are a bunch of kids growing up today in so much debt they don't even see coming, and they can't afford a college education or even get a job. I'm guessing at some point they will revolt and take your SS and Medicare away and toss you out on the street without a second thought.