The old mantra.....
Be greedy when others are fearful, be fearful when others are greedy.....
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Saw exactly the same thing happened in 2000s during the dot-com boom & bust.
Daytraders at that time and the new generation of investors (ahem) talked about the new paradigm and how Warren Buffett was yesterday's man because he refused to invest in the dot-coms.
This feels like the BTC bubble of 2017, could still run for a week or three though
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I remember that :D:D.. it gave me my first taste of trying to value non-asset cash burning digital companies over traditional bricks and mortar...I still have that after taste:p:p
Gosh it was fun back then those good ol days watching the "young turk" loud mouthers arses catching on fire :D.
I remember in NZ there were a very vocal group of investors/"experts" wanting Telecom (heavily weighted) removed from the NZSE40 because it was nearly singlehandedly depressing the index...strange really as they didn't seem to mind when it is was rising up in value ;)..I guess that what happens when a "rock solid" blue chip giant halves in price in 6 months (after April 2000) you tend to get crazy ideas and do crazy things..
Nothing changed much over the years,,still got crazy ideas and crazy things going on....Proves the point that its not different this time..eh..
Have just about finished reading the following book;
A History of the Global Stock Market from Ancient Rome to Silicon Valley,by B.Mark Smith.
isbn.978 0 226 76404 7
Nothing much has changed over the years...lol.