Are We in a Tech Bubble?



Are we in a giant tech bubble?

It is a question that keeps coming up. I am skeptical (maybe just 10%), but willing to consider other views.

The primary reason for my skepticism is my vivid recollection of the late 1990s. This feels nothing whatsoever like that.



The past 5 years of the S&P saw gains of +65%, or 10.5% Annually.


Nasdaq today: Five Year Returns, +125% 17.6% Annually


And the same five years that preceded the 2000 top?

Nasdaq : Five Year Bubble Returns, +865% 57% annually


Its really hard to suggest that either the S&P or the Nasdaq over the past half decade remotely resembles anything like 1995-2000.

More on this next week . . .



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