No, but a lot of other value investors did. I knew this bubble would eventually burst. It was probably the largest bubble in stock-market history. What surprised a lot of people was how long it lasted. And the price movements in this bubble were the greatest in history.
Psychology is very important in investing, and people get mesmerized by moves like that.
Between that and client pressure, a lot of value managers got sucked into buying vastly overvalued tech stocks. And some others, like hedge-fund manager Julian Robertson, George Vanderheiden at Fidelity and Bob Sanborn at Oakmark, threw in the towel and left the business. There's constant overreaction in the market. That is the normal cause of investor overreaction. A psychiatrist would say that investors often behave neurotically.