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I often wonder if there really was a dot com bubble. Some companies failed, but shouldn't we look at the software market as a whole?

Look at the performance of th qqq certificate, which invests in the largest 100 non-tech companies in the Nasdaq:

https://www.google.com/search?q=qqq

And click on "max". It goes from $52.97 in May 1999 to $485.51 today.

That is an annualized ROI of 9.21%. A better performance than many other market indices had over the same time.

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QQQ tracks the Nasdaq-100, which contains the 100 largest non-financial companies, not non-tech companies. Nine of QQQs top ten holdings are tech companies, which by themselves account for almost 50% of the ETFs allocations.

Yes, typo. I meant non-finance.

QQQ is a good indicator for how tech performed since the so-called "dot com bubble". And it performed pretty well. That's why I tend to not call it a bubble.

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