I wasn't paying attention during the 90's so this is not a rhetorical question. Everyone says we're in the midst of a commodity bubble especially with oil. Can it be a bubble if everyone thinks it is? I was under the impression that in the 90's people didnt think it was a bubble, which is why the bought into it...emotionally and financially...thus making it a bubble. If everyone is saying its a bubble can it really be? Isnt the crowd typically wrong? Thoughts?
I'm not sure you know what you mean by "everyone", and it seems to mean something different each time you use it. Something to think about.
When you hear about your barber , your lawn guy, your aunt in missouri talk about how they just quit their job of 25 years and are flipping tech stocks, houses in ocala and or oil futures trying to become barons and never have to work again...thats usually when the biatch pops....
Definitely true. I remember in 2000 when one of my truck drivers started coming to me with stock picks. The decline started 3 months later and never looked back. The funny thing is in March of 2003 he took everything our of his 401k mutual funds and put everything in a money market. Another great timing call. Too bad he retired 2 years ago, he was a great contrarian indicator.
Sorry for the double thread...Im not sure how that happened. I guess what I mean by everyone is the talking heads on TV, financial journalists, and people here on ET.