Hitting all-time highs
The 2022 downturn is over, but the battle scars remain. Investors remember it well: those who bought at the 2021 peak subsequently suffered a 33% decline in the NASDAQ in 2022. The pain of seeing your money shrink by a third is hard to forget....The tech-heavy NASDAQ Composite Index hit a historic high two weeks ago, marking an 85% surge since its October 2022 low of 10,089 points.
Back then, fear gripped investors, as I noted in a Business Times article (edited for brevity):
“With dark clouds gathering around the global economy, stocks are cheaper today than in the past two years. Yet, fear paralyses investors, despite the abundance of data and analysis.”
Fast forward to today, and fear remains—just in a different form.
Those invested are worried about a downturn, while others debate whether to buy now or wait.
No one wants to invest today only to see the market plunge tomorrow.