Advertisements

19 Things That Actually Happened in 1999: Yahoo! was worth more than Berkshire Hathaway. Today Berkshire is worth approximately $360 billion, or about $320 billion more than Yahoo!

http://dividendreference.com/articles/2015/1000193/19-things-that-actually-happened-in-1999/

PUBLISHED ON MAY 27, 2015. POSTED IN EDITORIAL AND TAGGED AOLBRKABRKBCSCOIBMINTCMSFTYHOO

19 Things That Actually Happened in 1999

BY MICHAEL JOHNSTON

The happenings on Wall Street in 1999 prove that sometimes truth is stranger than fiction. Although the events of 1999 are ancient history by many standards, some very clear memories no doubt remain for many investors. With technology and biotech stocks once again hot, a number of comparisons to the last bubble have been made. But the current environment can’t come close to matching 1999, either in terms of valuations or in the sheer madness of the markets. Below are 19 events that actually happened in 1999, highlighting the irrational exuberance that swept over investors (well, most investors).

  1. Yahoo! was worth more than Berkshire Hathaway.

High-flying Yahoo! had a market cap of nearly $100 billion in 1999, putting it ahead of Warren Buffett’s Berkshire Hathaway. Barron’s even ran a cover story on the Oracle of Omaha titled “What’s Wrong, Warren?” that questioned whether the end was near for Buffett:

To be blunt, Buffett, who turns 70 in 2000, is viewed by an increasing number of investors as too conservative, even passe. Barron’s noted that it wasn’t the only voice questioning Buffett; critics from a new corner of the world were becoming increasingly vocal:

Indeed, Buffett has even started taking flak on Internet message boards. One contributor called Berkshire a “middlebrow insurance company studded with a bizarre melange of assets, including candy stores, hamburger stands, jewelry shops, a shoemaker and a third-rate encyclopedia company.”

Today Berkshire is worth approximately $360 billion, or about $320 billion more than Yahoo! Read more of this post

Advertisements

Eccentricity is the vital ingredient for a city’s success; A Biologist-Turned-Buddhist and His Philosopher Father on the Nature of the Self and the True Measure of Personal Strength: Bamboo Innovator Daily: 27 May (Wed)

Life

  • A Biologist-Turned-Buddhist and His Philosopher Father on the Nature of the Self and the True Measure of Personal Strength: BrainPickings
  • Eccentricity is the vital ingredient for a city’s success: FT
  • Acquiring proven entrepreneurs is a smart way to innovate; LinkedIn co-founder Reid Hoffman on the art of importing and keeping business builders: FT
  • What’s Hot in the Art World? Algorithms; Admirers hold on to computerized formulas; paying $2,500 for a ‘qrpff’ necktie: WSJ

Read more of this post

%d bloggers like this: