Global News
Irrational Exuberance: Deja-vu All Over Again?
"Slump? I ain't in no slump. I just ain't hittin," explained famous philosopher, Hall of Fame ballplayer, and pennant-winning Manager (for the both the Yankees and Mets), Lawrence "Yogi" Berra, when asked about a long dry spell at the plate.
He could have been speaking for the equity markets' hivemind this week. The Nasdaq composite is off more than 53% from its high reached less than one year ago. After a big January pop, the COMP ended the month 46% off its March 2000 peak, and then proceeded to lose another 16% from its January 31 level.