Scott McNealy was the CEO of Sun Microsystems. The irrational exuberance during the Dot.com days was off the charts and there was no doubt it would come crashing down. It didn’t even need a specific event to initiate the crash. It just crashed, with many stocks losing 90% or more in a short time frame. Now realize the current bubble is probably four times as large as the Dot.com bubble and Wall Street is telling you to buy before it’s too late. So it goes.
Scott McNealy’s famous ‘What were you thinking?’ rant to investors for bidding Sun Microsystems’ stock price up to 10x sales during the DotCom bubble Keep in mind that $nvda is now trading at over 40x sales… – Automatic Earth
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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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“What were you thinking?”
Back when I was buying scrap gold, and somebody brought me a 10k ring with “2 total carat weight” of little yellow/brown diamond chjps, the usual scrap offer was about $40. Invariably the seller would say, “Sheeit, I paid $700 for that rang”. I would invariably reply, “What were you thinking?”
Bubble, bubble, toil and trouble….
If memory serves me correct, he had 5 sons. Built a huge bedroom for all 5. Why? “I wanted them to learn how to compete” (or someting like that).His son Maverick was on the PGA Tour, not sure if he is now.
Nvidia will be the reincarntion of the “Nifty Fifty”. Think LTV Steel.
When you print money nonstop it has to go somewhere so a lot of people invest in the stock market because hey it only goes up and returns at least 8% over time. Then the inevitable crash comes people lose a shat ton of money. Almost every person says I don’t know what I was thinking I knew the stock market was overvalued and going to crash. Following the crowd is what most people will do even when they know they are walking towards a cliff.