I guess it was a bubble!

Hard to believe that six years ago today:

The Nasdaq first broke 5,000. The index reached its highest close on March 10, 2000 at 5048.62. Ah, good times those were.

Thirty-one months later, the Nasdaq closed at 1114.41, a loss of 77.9%.

It’s roughly doubled since then, although the Nasdaq is still over 55% off its high.

Assuming the average long-term growth rate of stocks, the Nasdaq should make a new high around May 2014.

From – www.crossingwallstreet.com