Only just begun: Two executives say they know why Nasdaq still has a ways to fall.(Robert Snigaroff, Mike Munson)(Statistical Data Included)

Pensions & Investments, March, 2001 by Clair, Chris

When the Nasdaq composite dipped below 2,000 on March 12 for the first time in 27 months, Robert Snigaroff and Mike Munson were not surprised. They'd been expecting it for a year. But while Messrs. Snigaroff and Munson felt vindicated in seeing the tech-laden Nasdaq lose 60% of its value since closing at a high of 5,048.62 on March 10, 2000, they're not gloating yet.

As difficult as it might be for some institutional investors to hear, both men believe the Nasdaq has further to fall, and they've written a paper explaining why. ``The 21st Century Earnings Revolution, the Low Equity Risk Premium Paradigm, or the Late 20th Century Great Growth Bubble,'' written in August, will be published this fall in the Journal of Investing. In it, Mr. Snigaroff, former...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.