The Nasdaq Composite just hit 5000 yesterday and is nearing its all-time record closing high of 5048 set during the peak of the internet bubble in March 2000.
The 15-year journey back to these highs after the bubble burst included two recessions along the way — one of them “Great.” This accomplishment has sparked renewed concerns that the Nasdaq’s ascent reflects a stock market bubble that may soon burst. Even with the Nasdaq at 5000, based on valuation and sentiment measures, we do not believe stocks have reached bubble territory. As we walk down memory lane to the days when we got stockpicks from cab drivers and chat rooms, we see that the Nasdaq’s foundation ismuch stronger today. Read on by clicking the link below: