In March 2000, the last time we hit 5,000 on the Nasdaq, my kids were 1 and 2. They were perfect and I can’t believe I am so lucky they remain so.
I had a quotron and paid for real time stock prices.
I had a Nokia phone.
I had never heard of Ambien.
I was an 8 handicap.
I weighed 190 pounds.
In the 15 years since, only my golf handicap and CNBC have not changed. I’m an 8 handicap with better equipment and CNBC sucks.
Stock prices have changed wildly as have the leaders of the Nasdaq.
The MOST important change in the markets is a wider, deeper and wonderful ‘social dimension’.
In 1999 I would read Cramer and TheStreet. They had the platform, the talent and the voice. They talked their books but it was much easier to follow along than anywhere else historically. If they sucked, you voted with your clicks.
It was imperfect but it was the future.
Today, the future is wide open for markets, traders and investors because of mobile ‘smart’ phones and the ‘social dimension’.
The future of investing/trading I subscribe to is that of an Etoro, Robinhood, AngelList, and Stocktwits working together through API’s, connecting smart investors with free commissions (I am talking my book here yes).
I woke up today to see Robinhood featured in Bloomberg Magazine. Warms the cockles. Of course the article was not about the product, the vision or incredible traction, but ‘what could go wrong’. The same drivel every financial media outlet settles on.
There is also a $66 million consortium of banks. led by Goldman Sachs launching a social network by July. I would like to insert 1000 jokes here, but I will wait until it launches and fails. I won’t be surprised though if it never launches.
As for the future, I won’t waste time predicting the future price and market leaders in the stock market or indexes.
I do predict I will have a handicap south of 5, weigh 175 pounds, and continue to explore and invest in the ‘social dimension’ of investing.