This is a pretty interesting data point. Jason Zweig at the WSJ notes:
“Nasdaq up so much in past year, it has “only” 18.8% more to rise in order to reach its all-time high…set more than 14 years ago”
Well, what else peaked 14 years ago and is near record highs? The number of IPOs with negative earnings:
I’ll just let you chew on that.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.