Regarding the NASDAQ's prospects...
Consider the fact that the NASDAQ literally revolves around computers, the Internet, and the technology that supports and contributes to the operation of computers and the Internet. Now consider that computers and the Internet have become a part of everyday life, similar to your automobile, your telephone, and your microwave oven; all part of everyday life. Now ask yourself, "where is the pressing need to continuously upgrade?" The excitement factor is gone. There were no Earth-shattering differences between Windows 95, Windows 98, Windows 98 SE, and Windows Me. Nor were there any substantial differences between Office 95, Office 97, and Office 2000. Yes, there were important improvements, but were they substantial enough to warrant the level of excitement that existed? Let's face it, the Internet is here, it's commonplace, and we're all asking, "now what?" The reply seems to be, "well, we're making Windows a little better again, Office a little better again, and computers a little faster again." Shrug. Big deal.
With this in mind, it seems reasonable that the NASDAQ will grow, but at nowhere near the levels witnessed during the past 15 years. The excitement factor is history.
Now, can the promises of Biotechnology and new-age fuels and fuel cells save the day? Only time will tell.
Ciao,
John |
