Comment Ahh, it's that time of year again (Score 3) 130
Yes, it's fall, and time for the third annual "the bottom has fallen out of the tech stock market! the honeymoon is over! the sky is falling!" fest.
The Nasdaq's down, yes, but so is every other market in the world year-to-date except the TSE, and that's only because of the performance early in the year of a stock that has 30% of the TSE's market cap. The tech sector is down this fall, yes; and last fall. It'll recover. Ignore market psychology and value ratios and technical indicators for the moment, and think: every day slashdot posts about new and exciting technology. Progress and the level of technical achievement in our culture advances continually - the only thing that can hold the tech market back is a fundamental restructuring of society - but if that happens you'll have worse things to worry about than what your dotcom stocks are doing. It's a geeky world out there and it'll only get geekier - so buy a mixed basket of techs while they're cheap and hold on to 'em for 20 years and retire.
How's my ride been? Well, I'm 30% up from where I started, and when the market recovers, I'll be doing even better. "Welcome to the wonderful world of high technology."
The Nasdaq's down, yes, but so is every other market in the world year-to-date except the TSE, and that's only because of the performance early in the year of a stock that has 30% of the TSE's market cap. The tech sector is down this fall, yes; and last fall. It'll recover. Ignore market psychology and value ratios and technical indicators for the moment, and think: every day slashdot posts about new and exciting technology. Progress and the level of technical achievement in our culture advances continually - the only thing that can hold the tech market back is a fundamental restructuring of society - but if that happens you'll have worse things to worry about than what your dotcom stocks are doing. It's a geeky world out there and it'll only get geekier - so buy a mixed basket of techs while they're cheap and hold on to 'em for 20 years and retire.
How's my ride been? Well, I'm 30% up from where I started, and when the market recovers, I'll be doing even better. "Welcome to the wonderful world of high technology."
