Investor Business Daily Article from May 2001
Michael C. Eddy, Managing Partner
I used to be a regular reader of the Investor Business Daily newspaper. I knew a lot of people in the investment advisory industry during the latter half of the 90s who at least paid attention to the IBD. The attached image is an article I clipped from the paper in May of 2001 as the tech mania of the late 90s was finally becoming recognized for what it was – a bubble. I kept this clipping as a reminder of the necessity for healthy doses of skepticism when considering popular opinion, especially in the field of investing.
The article highlights the flawed recommendations of Wall Street tech analysts as the tech bubble hit its final crescendo and then crashed back down to earth. You can probably guess what happened. 15 years removed its almost humorous reading, but still a stark reminder to not simply follow the herd. Take a look.