tag:blogger.com,1999:blog-6244999628674918029.post7619663071250462015..comments2024-03-28T23:57:50.103-05:00Comments on Bayou Renaissance Man: The anatomy of a financial bubblePeterhttp://www.blogger.com/profile/10595089829300831372noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6244999628674918029.post-70986680763196060722013-11-03T10:08:33.616-06:002013-11-03T10:08:33.616-06:00I have a rule of thumb for recognizing bubbles get...I have a rule of thumb for recognizing bubbles getting ready to pop. It has happened during the 80s bubble, during the 90s tech bubble and during the real estate bubble that just popped.<br /><br />In all 3 cases, I remember seeing a story about a college kid who was making lots of money playing the market instead of attending classes. In the first case, it was in the days of pay phones to stock brokers between classes. In the last it was cellphones and realtors. In all cases, the attitude was "This is easy! Markets go up forever and I just need to keep buying and selling (or flipping...)"<br /><br />No matter what asset you're in - I don't care if it's something solid like gold or magic unicorn farts - when you see stories like that in the news, <b> GET OUT </b>. Or, at least, "prepare for total crash". <br />SiGraybeardhttps://www.blogger.com/profile/00280583031339062059noreply@blogger.com