WFH - Nasdaq - Party Like It's 1999
Run, Bull, Run, was the cover story of Barron’s magazine in January 2000. The story presented arguments for "another record-breaking year for stocks". Today, we know that it didn’t happen. Instead, the bull was a bubble and burst a few months later.
Source: Deutsche Bank, EPFR, Haver Analytics
Tech(no)
There are striking similarities between investors’ behavior around the millennium change and today. Speculative positioning on the back of extremely optimistic expectations channeled liquidity into the equity market. Investors piled into the tech sector, as the first chart above reveals. Meanwhile, eight out