[prewett]

Since you couldn't "put money in the internet", you had to choose some actual companies. Your results varied by which company you chose, and when you invested. (This is always the case, obviously) Sun Microsystems? Let's say you bought the dip at the end of May 2000, at $150. It's ending price when it was bought by Oracle in 2010 was $9.50. [1] Suppose you bought Cisco at the same time for $37.30. You would have waited 18 years, until Aug 2018 for it to reach the same height. Now it's at $127, which over 26 years is an annualized return of 5%. It would have only taken 14 years to break even with Microsoft.

Now, if you had put your money in those stocks 12 months later, you would do okay (except for Sun). So, no, those pensions did not do the right thing by buying at the peak of a bubble. At least, not for people like me who don't like 15 years of negative returns.

[1] https://companiesmarketcap.com/sun-microsystems/stock-price-...

[2] https://companiesmarketcap.com/cisco/stock-price-history/

[simianwords]

> Since you couldn't "put money in the internet", you had to choose some actual companies

Why not NASDAQ?