STREET DOGS: Nasdaq stocks may be subject to unrealistic expectations
Index filled with unprofitable technology growers rose nearly 44% compared with 7% of Dow Jones
From David Poppe at Giverny Capital Asset Management:
Joel Greenblatt observed in October last year that there were 261 US companies with a market capitalisation above $1bn that were unprofitable in 2019. A basket of those stocks rose 65% through autumn. They rose even more in the fourth quarter. ..