Almost 15 years to the day after the NASDAQ last closed above 5000, the index finally breached that level again, albeit for only one close, so far. That means that if you invested in the NASDAQ in March 2000, it took you 15 years just to get back to break even, which doesn’t sound like such a great investment. Between then and now, the NASDAQ lost 78% to its October 2002 bottom and rallied 351% to its recent high. That’s a lot of volatility for sure!

While the close above 5000 was just another round number to the bulls, bears from all walks of life came out of the woodwork warning of the same demise that befell the index when the Dotcom bubble burst in 2000. Even Mark Cuban with similar arrogance and pomposity of Donald Trump shouted on all the major business channels about the new NASDAQ bubble. Cuban did later walk that back a bit, claiming he meant in the private markets not the publicly traded ones.

So, is this time really different? Or is the NASDAQ in a bubble that’s about to burst?

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Paul Schatz

Paul Schatz is President and Chief Investment Officer of Heritage Capital, LLC, in Woodbridge, CT. and a Managing Partner at Numetrix Capital, an investment research firm focused on multi-manager, multi-strategy portfolio solutions.

The opinions and forecasts expressed herein are those of Mr. Paul Schatz and may not actually come to pass. Mr. Schatz’s opinions and viewpoints regarding the future of the markets should not be construed as recommendations. The analysis and information in this report is for informational purposes only. No part of the material presented in this report is intended as an investment recommendation or investment advice. Neither the information nor any opinion expressed nor any Portfolio constitutes a solicitation to purchase or sell securities or any investment program.

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