Prof G Markets
“When I started in this business as a young man, 1969, in the research department at Citibank, the bank and most of the banks invested in what were called the nifty 50, which were considered to be the best and fastest growing companies in America,”
Marks states Nifty Fifty investors lost 95% over five years despite being greatest companies in America.
“if you bought those stocks the day I got to work in September of 'sixty nine, if you held them tenaciously for five years, you lost about 95% of your money.”
Marks recalls Nifty Fifty PE ratios were sixty to ninety, revealing his role as research director.
“So, it was a and so that was a real disaster for the people who invested in the Nifty Fifty, which was most of the money center banks.”
Marks recalls the Nifty Fifty lost 95% over five years despite being the greatest companies in America.
“And if you bought the stocks the day I got to work in '69 and you held them for five years, the greatest companies in America, you lost about 95% of your money.”