Yep, that’s why I made that earlier post: she also admitted that she wasn’t old enough to be working in the business in 1999 when that bubble happened.
That’s one thing that happens with bubbles. The next one can usually happen when they weren’t around for the first one OR it’s been so long since the last one, they’ve forgotten about it.
Usually once you’ve had roughly a decade (give or take a year or two on either side), it’s been so long since the last bubble that the people that are still around in markets have forgotten the pain of it and its been long enough to where there’s a whole new generation of investors that have never experienced one at all, so of course they’re not looking for it or even know it can happen. The amount of novices/inexperienced traders near market tops is always a crazy-high number of them.
In the old days, they’d say “when the taxi cab drivers and the shoe-shine boys get into the market, it’s time to get out”.
I remember a bubble in the forex market that had Japanese housewives trading the yen pairs.
I remember a Chinese bubble so great that the regular public would just hang out at the stock brokerage firm all day.
Today, we’ve got “day traders” reemerging and literally people who are known for being gamblers, trading in stocks now. We’re back to a frenzy which always notes a toppy period. The question is just, “What day does the house of cards come crashing down?” No one knows…but ANYONE can be aware of the risks AHEAD of time. Most won’t see it, but thankfully, we do.