DarkAngel
DarkAngel's a man, baby!
- Joined
- Aug 22, 2001
- Posts
- 7,235
- Likes
- 15
I am just appalled at the destruction of wealth in our stock markets, although mainstreet seems OK for now, many people including myself have lost massive amounts of money (several 100K!) investing in what was previously belived to be relatively safe Nasdaq 100 bluechip mutual funds that hold stocks like:
cisco
microsoft
intel
applied materials
oracle
siebel
emc
These are not fly by night internet companies with no earnings, but some of the biggest companies in the world a couple years ago. My 401k now looks like a 101k..........so much for the buy and hold dollar cost averaging method of investing, this bear market is extremely destructive and punishing to anyone investing in this countries technology sector. It was fun on the way up, wish I would have diversified more now, but who could have predicted the collapse of the entire USA technology sector.
(Nasdaq average down a stunning 75% from its 4/00 high) It will take many, many years to ever get back to the market levels set in April 2000.
Anyone else feel my pain....................
cisco
microsoft
intel
applied materials
oracle
siebel
emc
These are not fly by night internet companies with no earnings, but some of the biggest companies in the world a couple years ago. My 401k now looks like a 101k..........so much for the buy and hold dollar cost averaging method of investing, this bear market is extremely destructive and punishing to anyone investing in this countries technology sector. It was fun on the way up, wish I would have diversified more now, but who could have predicted the collapse of the entire USA technology sector.
(Nasdaq average down a stunning 75% from its 4/00 high) It will take many, many years to ever get back to the market levels set in April 2000.
Anyone else feel my pain....................