FYI: Yesterday, we discussed why the Standard & Poor's 500 Index has gone sideways for the past few months. The prime suspects were rich valuations, earnings crimped by falling energy prices and higher returns to be had overseas.
Today, I want to look at the Nasdaq Composite Index. It closed at 5,056.06 yesterday, surpassing its March 2000 dot-com high. It took more than 15 years to breach that earlier mark. Meanwhile, the Dow Jones Industrial Average and S&P 500 passed their pre-crisis 2007 highs almost two years ago.
Regards,
Ted
http://www.bloombergview.com/articles/2015-04-24/how-stock-market-bubbles-steal-from-the-future-
