ORCL
1995-2000 - Euphoria in Perspective
On July 17, 1995 the NASDAQ Index crossed 1,000 for the first time; just 5 1/3 years later, on March 9, 2000 it crossed 5,000. In the period perhaps $12 Trillion of wealth was created in US stocks.
The five following stocks of the era, the ‘nifty five’, grew in market cap by almost $2 trillion during the five plus year period, accounting for 1/6th of this stock wealth creation.
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The Four Horsemen of Web 2.0
Cisco (CSCO), Oracle (ORCL), Sun (SUNW), and EMC (EMC) were the darlings of the internet boom and were referred to as the ‘Four Horsemen‘. Your broker was overheard in 2000 “Yes, things are in fact a bit irrational but these companies have real products, revenues, and earnings and are investment-grade leaders of the new economy.”
Your broker neglected to mention that the biblical Four Horsemen of the Apocalypse were steered by four riders - Conqueror, War, Famine and Death. I’ll leave it to my readers to pair them appropriately.
