HoustonChronicle.com - Dot-com bubble's legacy: unrealistic expectations
Some of the highlights:
"The Nasdaq is still 58.6 percent off its 2000 high as of Wednesday's close, and the technology and biotechnology corporations that helped create the bubble have either matured into value-oriented companies with realistic profit expectations, or have gone under. By the time the Nasdaq is poised for a new run higher, the entire character of the Nasdaq may have changed."
"The impressive gains in 2003 -- a 25.3 percent rise in the Dow and a 50 percent rise in the Nasdaq-- showed that the market could recover. Still, for many investors, stellar returns may have created an unrealistic picture of a stock market that historically has gained 8 percent to 10 percent a year."
"The final tally: the Dow had fallen 37.8 percent from its high, the S&P 500 lost 49.5 percent, and the tech-heavy and startup-friendly Nasdaq tumbled 77.9 percent."
"Billions of dollars simply ... evaporated."
Read the rest of the article at the Houston Chronicle site.
Just as an aside, while the Houston Chronicle's archive is short (only 7 days free), I consistently find it being my first or second read of the day: well written, easy to navigate, and interesting topics. Keep up the good work HC!