Being old—like north of 60—doesn’t come with many advantages. However, in the investment game it does have at least one: being “mature” enough to remember past financial and business cycles.
Invincible. Infallible. Unshakeable. When the tech heavyweights stepped up to fight nearly ten years ago, they were substantially leaner in almost every measurable category. Market caps were deflated following a bloody bear bath; earnings were paltry and, in many cases, non-existent; and influence on Main Street, Wall Street and Capitol Hill were meaningful but not, by any means, overwhelming.