It's just the style of the last 15 years, ... Because of the long-term bull cycle, the bear markets are very short.
Nasdaq is not just another little place for a few stocks, ... It dominated the market and went in different directions than the Dow.
We've always had periods when something came in vogue, ... This is different because of the Internet. It keeps on going and the riches just keep astounding everybody. All the traders that come up today naturally gravitate toward Internet stocks.
Had they left IBM where it was, the index easily would have been 1,500 points higher during that time. But how can you give them praise or blame? They are just making up an average.
With computers nowadays and the Internet, the average investor can be a financial genius. You now have databases . . . which put you on a par with the top money managers.
Those new stocks haven't really helped all that much, but I don't think they've actually hurt all that much, either. Their formula for picking stocks isn't the end-all, but it's what people know.
That's the history of business in this country. Wal-Mart did something differently, and Home Depot certainly did something different, and Sears stayed the same. If you don't respond to changes, you can be left behind and find yourself in trouble.
That's the history of business in this country, ... Wal-Mart did something differently, and Home Depot certainly did something different, and Sears stayed the same. If you don't respond to changes, you can be left behind and find yourself in trouble.
During those years, a market used to last about 9-10 months. In 1990 we had a bear market which took 3 months.
It used to be that as companies got big, they wanted to get to the New York Stock Exchange,
