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Date Posted: 2/11/10 21:27:45
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Superman may be played by John Hamn==featured in this fortnights magazine==reported MX==Adman
's message, "Superman at 10.17am Wednesday October 13th 2010 noticed a 2c difference in the spread at 286 to 288==at 260 days to his birthday Wednesday June 30th==2011" on 2/11/10 21:14:32
2000: The Nasdaq hits 5,048.62, the high-water mark of the dot-com boom. It’s all downhill from here.
See also:
10 Years After: A Look Back at the Dot-com Boom and Bust
The boom is more accurately described as a bubble, since it rested largely on wild stock speculation and freewheeling venture-capital investment that resulted in the often ludicrous overvaluation of sketchy internet companies. Established business practices — for example, asking questions like “What do you guys actually do?” — were being ignored by investors and VCs hoping to cash in quick on new models that often were no models at all.
The frenzy was built on what seemed to be the limitless potential of the internet as a cash cow for those daring enough to take risks. In the end, e-commerce did become a big deal, but it has evolved pretty much along conventional business lines.
Big companies predominate and smaller entrepreneurs with a solid plan can thrive. The Jolt Cola kids, and their skateboards and Foosball tables, have largely passed from the scene.
On March 9, 2000, however, the sky was still the limit. But the euphoria, built as it was on smoke and mirrors, couldn’t last. And it didn’t.
On March 10, the Nasdaq Composite index peaked, more than doubling its value of a year before. But then the slide began, and it was a precipitous drop, which is why March 10 is generally considered the day the bubble burst.
Source: Various
Photo: Charles Molineaux delivers a live broadcast from the Nasdaq MarketSite on March 9, 2000, showing the Nasdaq composite index’s first — and so far, only — close above 5,000.
Stuart Ramson/AP
This article first appeared on Wired.com March 10, 2007.
Read More http://www.wired.com/thisdayintech/2010/03/0310nasdaq-bust/#ixzz14BrCHLzF
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