Nasdaq 5000 or Bust

Stock Market Update
Written By James Tharin, CFA – President & Chief Investment Officer

On March 10, 2000, the Nasdaq Composite Index set an all-time record high at 5048.60. What followed was an unbelievable two year and seven month drop of 78% known today as the tech wreck. Almost fifteen years later after that Y2K example of Irrational Exuberance and about twelve years and seven months after bottoming at 1108.49 on October 10th, 2002, the index appears to be making a run at its old record.

Old highs out of an index can often be areas of stiff resistance. However, markets that do manage to convincingly break out to new highs have historically gone on to post significant gains. This milestone is one to watch. As of this writing the Nasdaq Composite index stands at 4879 or just about 3 ½% below its peak. Will it prove to be the end … or just the beginning?

James Tharin, CFA – President & Chief Investment Officer

James brings more than 30 years of investment management experience and broad knowledge across both fundamental and technical analysis. His specialty is building customized portfolios of individual stocks and bonds, thoughtfully tailored to each client’s goals and risk tolerance.

Before founding Emerald, James spent 22 years serving clients at A.G. Edwards and Wells Fargo Advisors. A proud Rocky Mount native, he’s deeply involved in the community and has held leadership roles with the CFA Society North Carolina, as well as several local nonprofits and civic boards.

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