The hottest stock markets lead to the biggest losses
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Investor enthusiasm has culminated in some of the worst cases of wealth destruction in the last 100 years, a long-running study shows.
PHOTO: NYTIMES/ANDREA CHRONOPOULOS
Jeff Sommer
WorldCom, Lucent Technologies, Wachovia and Rivian Automotive: These companies are members of a dubious group, the worst stock market investments of the last century.
That lowly status is documented in a long-running study that has got far more attention for its depiction of the century’s best stocks. But it suggests that the most dangerous times for investors are when the market is high – and we may be in such a time right now.