Nasdaq · April 23, 2015
The climb back to the level of 2000
+78.22%
trough back to the old high
611 trading days · 2012-11-15 → 2015-04-23
What happened that day?
- From the low on 15 November 2012 to 23 April 2015, the Nasdaq rose 78.22% over 611 trading days
- There is not a single correction of more than ten percent inside this stretch. It is the quietest and longest advance of the whole recovery
- The Fed was buying bonds every month through most of it. Talk of tapering in the summer of 2013 caused a brief scare, but the actual slowdown was gentle
- Earnings really were good. Smartphones, internet advertising and cloud services all established themselves in this period
- On 23 April 2015 the Nasdaq passed the high it had set in March 2000, fifteen years later
- That it took fifteen years to get back is the point of this whole episode. An index can recover; the years of whoever bought at the top do not come back
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.