NASDAQ and Aussie tech stocks
Since I switched out of resource stocks into tech stocks 18 months ago, it has been most rewarding. Not all tech stocks are profitable and when they fell, it can take down the average badly.
Today, overnight NASDAQ went up by nearly 0.7% while S&P crawled up 0.35% and DJIA only 0.03%! The different trajectories between non-tech and tech stocks have caught my attention recently because I noticed that in our portfolios, the tech stocks are leading the charge. Had it not been for them, the blue chip stocks (other than BHP and RIO) had dragged the overall performance down badly.
Sooner or later, a finance journalist in the prominent papers is going to highlight this so that fund managers will reshuffle their mix to reflect the rise of Aussie tech stocks. There is not a separate stock exchange for them.
In 20 years, when I am decrepit, I worry that our portfolios would be left in the 2010's or 2020's and no longer generates any income! By then, I may have to surrender our portfolio to those greedy fund managers!
posted by Club Mulgoa @ 2:31 PM
1 Comments:
S&P500 and Dow were down a little last night... but NASDAQ was up significantly higher, a disproportional divergence. I note that of late, my portfolios performance is more closely tied up with NASDAQ due to significantly higher number of tech stocks, increasing ratio over the last 18 months and increasing 'exponentially' with hardly any industrial stocks but some mining stocks.
However, the ASX is expected to be down today and perhaps NASDAQ was FOLLOWING Australia as my tech stocks (and some mining stocks) were out-performers yesterday.
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