Nasdaq peaks in year 2000 at 4k+; peaks in year 2023 at 16k+. From year 2000 to 2010, it suffers huge loss and keeps flat for a long time. Then it picks up and reaches today's level. The first decade is not a waste. Most hugely successful companies today are well established since year 2000. In the first decade they store energy, in the second they release. It is not just market sensationalism, because those companies are hugely profitable, with rising revenues and earnings year after year.
It's too much coincidence that many companies go through the same pattern. "Times" is the only explanation. After all, technology comes in waves. No single company can run by itself without benefiting from technologies created by others.
SP500 exhibits a similar pattern. It is strange that well established, boring companies can keep growing and amassing market share like crazy in the last decade, such as MA, V, UNH, COST, HD, or even SBUX.
To zoom out, there seems to be a wave every two decades. The reason is unclear. Something is orchestrating the grand show. It's unknown where we are currently in the show.
