Msg. 60630 of 65535 (This msg. is a reply to
60624 by
Zimbler0)
Jump:
Zim:
Just presenting the facts. If you want to fanasize elsewhere, so be it. It was the Nasdaq bubble exploding. If your mutual fund moved into tech stocks late, then they got crushed along with many others. Doesn't change the facts. See graph below: 1999, then 2000-2003.
KTC> Especially if you were in tech stocks, which was the only place to be at that time.
KillTheCat,
I have one 'fond memory' from that train wreck.
And an observation.
First, with the obvious 20-20 hindsight . . . Tech
Stocks were the worst place to be. Yahoo losing
over 90% of its value. (Among others.)
Fondness? I had been buying Dominion Resoures -
an electrical utility stock - since 1997. Its share
price had finally gotten attractive enough I wanted
to buy more in early 2000 . . . then the bottom
dropped out and I had to put my checkbook back away -
Big D's share price skyrocketed. Had I bought a
ton of the stuff in February 2000 . . . a year later
with the dividends I'd have doubled my money. I still
own my Dominion and it has had a serious unrealized
capital gain ever since then.
But, I took a whupping in my 401K and in three stock
mutual funds I owned shares in.
One of the stock mutual funds . . when I started
buying shares of it in 1997 it was 'boring'. It
paid out a dividend. In mid 1999 they sent me a
letter telling me they was tired of the dot.coms
beating their butts and they was gonna get on the
bandwagon. The dividend all but disappeared . . .
and in 2000 so did a LOT of the value I had in it.
So, do NOT try to tell me there was no market
crash in 2000.
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