Headline Fun

A headline today:

Nasdaq at 6-Year Low

Interesting. Today, the Nasdaq closed at 1299. On March 10, 2000, the Nasdaq peaked at an intra-day high of 5,132.52, and closed at an all-time high of 5,048.62.

How honest is a headline that emphasizes “6 years” when speaking of the Nasdaq? Isn’t the Nasdaq STILL in a 9-year drawdown of -74%?

6 thoughts on “Headline Fun

  1. Patrick, funny I was just thinking about that. I doubt Jack Welch was brilliant. More likely he, Immelt, and all the managers were just guys riding the massive credit/financing bubble for the last 15yrs. Same with Sandy Weill.

  2. It used to be an Ivy degree and investment bank pedigree and you were set. Game over. Next.

  3. Michael, The nikkie is just as bad from around the 1989 timeframe. Nothing like averaging down for 20 years.

  4. Something else to think about. GE has now lost about $300B in market cap. And now that we see the financing house of cards it was built on, its hard to believe that the managers didn’t know what was going on. Maybe GE was indeed the greatest Ponzi scheme in US history! $300B makes Madoff’s $50B look like chump change. Henry Blodget makes a good point here about their “laughable” AAA credit rating http://www.businessinsider.com/henry-blodget-laughable-rating-agencies-still-say-ge-is-aaa-2009-3

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