parados wrote:real life wrote:
The NASDAQ dropped from over 5000 to 2500 in just one year. Half of the value of these companies was wiped out. Gone.
Nope. Half of the value of the NASDAQ was wiped out. Some of the companies were completely wiped out and some dropped 20%.
I referred to the companies collectively, as they were on the same exchange. I did not state or imply that each and every company lost 50% and only 50% of its value.
parados wrote:Investors bought stocks they had no idea about.
Are you speaking from experience, or can you read minds?
The NASDAQ meltdown was not caused by investors unknowingly buying into a few companies that turned out to be poorly run or managed.
The crash is directly traceable to the actions of the Clinton Justice Dept in their aggressive and overzealous desire to punish Microsoft and make a name for themselves.