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Velocity of money still at record low 
Inflation peak is yet to come
1/ Are we at the similar point in time to the late 1990s?
Tech sector started rising in an exponential trend around 1997/98 while it was already fully priced.
The risk was high.
However, during the next 3 years the bubble kept inflating & eventually peaking in March 2000.
Tech sector started rising in an exponential trend around 1997/98 while it was already fully priced.
The risk was high.
However, during the next 3 years the bubble kept inflating & eventually peaking in March 2000.
2/ Was it wrong to hold onto tech stocks at that point in time?
For speculators & traders, it wasn’t wrong at all because they continued to ride the trend higher for the next couple of years.
The question is: how many successfully rode it up to the peak & got out in time?
For speculators & traders, it wasn’t wrong at all because they continued to ride the trend higher for the next couple of years.
The question is: how many successfully rode it up to the peak & got out in time?
3/ Long term investors, especially those focused on value, approach things in a different manner.
Once they commit capital, they hold on with a 10+ year time horizon.
In hindsight, the bet was wrong as 15 years would pass without any positive returns by the tech sector.
Once they commit capital, they hold on with a 10+ year time horizon.
In hindsight, the bet was wrong as 15 years would pass without any positive returns by the tech sector.
