Kevin Davitt from Nasdaq put up a chart he says he does not enjoy showing. The S&P from 1997 to 2000 ran about 72 percent, through the Asian crisis, Long Term Capital and the first dot com scares. Next to it, the Nasdaq 100 from its 2023 low to its recent peak, up about 82 percent. Same shape, 25 years apart. He is careful to say this is not a call for what came next.
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