Nasdaq 3,000? I donâ??t see why itâ??s such a big deal.
After all, when the Nasdaq Composite Index does finally eclipse this level (it has come close now for a number of trading sessions, but so far in vain), it will still be more than 40% below its all-time high set in March 2000. That was 12 years ago. And the damage to this index in inflation-adjusted terms has been far worse â?? a 55% loss.
Celebrating that has to be a great example of gallows humor.
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