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Strategies & Market Trends : The New Economy and its Winners

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To: Jill who wrote (46613)	11/14/2008 1:48:16 PM
From: Lizzie Tudor	1 Recommendation Read Replies (1) of 57684

right, today we got news 6000 layoffs at Sun Micro. Sometimes these headlines are more extreme than the results because they include attrition in their count and tech has such high attrition you look back on these announcements and find that they had a small layoff and that was it. But 6K is a lot of people. I disagree a little with Theresa low because I think the 1929 or 1966 market peak was actually in 2000- so we are 8 years into this. Most of the wealth destruction from stock happened between 2000-2002, but it is masked in the indices due to survivor bias. For one thing we went from the largest number of listed stock in the nasdaq ever in the 90s to the same number as 1983 in the 2000-2002 period. That collapse was masked by the indices, and there has been nothing but more consolidation since that time.

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