So Many Memories...

in #investing3 months ago

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The last couple of weeks, I have been getting more flashbacks of my memories of the dotcom bubble and burst given so many similar trends I recall from the period and what I am seeing today in a number of markets. Valuations is just the start of the considerations on my list as the exponential returns from companies without a profit has grown enormously.

IPOs are the latest craze that bring back memories. It seems that everyday, more institutions are taking advantage of the momentum and capital available in the markets to go public. While the past, it has been venture backed led companies, we have now seen the proliferation of SPAC instruments being used for bringing private companies public. Every day billions seemed to be raised through these while valuations continue to grow as capital continues to flow and chase returns.

However, these reminders of the year 2000 have gotten me more to the brink of giving up at the moment. The amount of liquidity continues to inflate almost everything into bubble like conditions. I always take the "sell when greed or buy when fear" as a leading indicator; which is why this seems to feel like a cycle closer to the top than otherwise. I mean, why else would so many private investors rush to sell their company's stock to others? I believe that most want take advantage of the euphoria with good reason. While some may be the next trillion dollar company, most will fail. Raising capital is very smart but it will not come from my balance sheet.

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