Is The Nasdaq (The Stock) A Buy

It seems silly to be excited about stocks as we enter inning 14 of this stock market boom, but we remain in a great uptrend and baseball peaked years ago. The markets don’t form fit to anyone’s sports analogies.

I have spent so many years on this blog talking about the inevitable Nasdaq 10,000, but have rarely mentioned The Nasdaq. Here is the Wikipedia page which offers some great background on the company.

I bought a few shares again today.

I have owned it in the past but been lulled out of it for better ideas.

Today the stock is near all-time highs:

The stock went sideways for 10 years between 2005 and 2016 so it is an understatement that the board and CEO did a terrible job running this great brand. In a Yahoo type moment they even spent millions changing their logo.

I have no opinion on whether the stock is overvalued or undervalued, but I do feel that the Company seems relatively inexpensive as a global data and financial market leader at a $15 billion valuation (for chrissakes Twitter is $26 billion).

In 2016, Adena Friedman took over as CEO and the stock has had a great run under her leadership. I do stock walk and talks in San Diego’s Little Italy with young Danny (BadaBingCapital) and his CFA mind says that Adena’s shedding of bad business lines has been smart. That’s a start.

I don’t know Adena so she will have to track me down for all my great ideas, but two freebies quickly… buy Carta and AngelList and leave them alone… and The Nasdaq should have been and still can be a much bigger force in fintech startup investing. They have focused on the nickels charging early stage fintech startups for their data and have left the dollars on the table that warrants and equity would have reaped from jumpstarting the next great companies with that same data and reach offering access to customers in global financial markets.


Also published on Medium.