Excerpt from MarketWatch’s latest article quoting DataTrek Research:
…. “So our call of the day focuses on Lehman’s lessons for investors. It comes from two sources — DataTrek Research co-founder Nicholas Colas and Andrew Thrasher, a portfolio manager at Financial Enhancement Group and the founder of Thrasher Analytics.
“Tech XLK, of course, is the largest reason the S&P 500 is 80% higher than its pre-Lehman highs,” Colas writes. The gauge is 84% above its pre-crisis peak, to be exact, and that old high was achieved on Oct. 9, 2007.
The big gains for Apple AAPL, Google parent Alphabet and the like provide “an object lesson in the importance of technological innovation in driving stock prices over the long term,” Colas adds. “That, in the end, is the most important takeaway from Lehman Brothers and the financial crisis”….
Read the whole article here on MarketWatch!