Or why this time it's still not different

Scanning through my year end materials I came upon this gem from TKer where we look ahead to Wall Street market predictions, but more importantly review last years' prediction. Are we surprised that NONE of the rosey predictions for the S&P 500 came true? No. Are we surprised that the market fell to the degree it did? Yes.

What the composite S&P 500 hides is the fact that tech and many speculative stocks have taken it on the chin. They won't be back for quite some time. Again, I'm not about stock picks so I'm more concerned with how this looks like 1999. If you recall there were winners after the bubble burst (Microsoft and Amazon) and there were winners that never recovered (Allianz, Deutsche Telekom, Intel and Cisco).

Looking into 2023 The Street is still worried about a recession and are predicting a slight decline to downtrend market. They will be proven wrong, again. Such in life, the strong will survive and the comeback starts now. Whether you are looking for a job or a place to invest your money, the winners with solid business models, strong leadership and a rich market will prevail.

The next generation of startups and hit products are just now being dreamed up. Following the bottom of the Dotcom bust in 2002, Facebook & YouTube were founded in 2004, Twitter in 2006, Netflix began streaming movies in 2007. Immediately after the bottom of the United States housing bubble in 2011, Snap was founded in in 2011, along with Vine in 2013 and TikTok in 2016. 

So what should you do? It the words of George Carlin "Calm down, have some dip". In other words, pay less attention to flashy headlines and lean more on common sense and boring but credible sources. I don't recommend making life decisions based on CNBC or FOX Business stories, and I beg of you to ignore 90% of the YouTube economy "infotainment". It's mostly garbage and designed to generate views and clicks.