The realist in me is amazed that the Invesco QQQ ETF (QQQ) is so resilient. But a moment later, I snap out of it, and remind myself, “it’s the passive flow and the high level of market liquidity.” In other words, as long as 401k money floods into mega-cap-biased index funds and central bank money-pumping continues as it has for years, there’s no reason QQQ can’t keep climbing.
Or, it could go the way of the dot-com bubble, specifically the calendar year 2000. If you’re not familiar, here’s an easy way to remember it. Because if you do, you’ll be a risk manager like me, forever.
