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Strategies & Market Trends : Nasdaq 100 Analysis
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To: Steve Lee who wrote (178)5/21/2002 10:36:52 AM
From: Kirk ©  Read Replies (1) of 238
 
Yeah. It reminds me of buying gold and having to pay for storage or paying 2% a year to a growth fund manager, it eats away at returns.

I've never owned it but I used to think it was OK to own as an investment if you wanted to own the large cap growth companies in the form of an index/ETF. When they took out Arba, JDSU and CMGI I realized that QQQ holders would never benefit if any of these stocks came back in any way I then decided this was not a good investment. My feeling is I'd want to hold them all at low values as even if 4 of 5 went bust, one of them should have gains to make up for any further losses in the deflated bubble stocks.

Now after observing how the QQQ is "managed", I see it is not really an index fund but a "managed beauty contest basket of growth stocks" where market cap is how they vote on the pageant contestants. I actually think it was designed to short for smart traders who want a faster way of removing money from the clueless who buy stocks because "they go up" and because "they are well known winners" regardless of valuation.

I am not a big trader and only trade on the long side in stocks I feel are fairly valued and I like for the long term so if wrong, I just have an investment... but QQQ might be a perfect short should we get a big run up and biotech is still at bubble valuation as I think that is next for the deflation bucket now that the internet has popped.... but it could take a whole market cycle to actually pop if we had a bottom on 9/21/01.
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