Look for them to change their minds and turn into panic buyers of gold when paper currencies lose value. Vast quantities of present-day paper wealth, held in the form of inflated stock market equities, will never be converted into lasting wealth. For most, this imaginary wealth will die along with the prevailing market mania. As in all major market turns, surprise will be a major factor. No advance warning signals for a privileged or clever few will be flashed.
Manias exist because a popular point of view becomes over-exploited.
A willingness to act in advance, when the negative catalysts are still unclear, and risk leaving money on the table, is the only certain escape. Risk derision and buy gold or gold shares, the pariah of all asset classes. When investment confidence falters, gold will be the leveraged play. A small commitment will preserve and protect some of the paper wealth that would otherwise disappear. Most holders of equity shares are unable to move their wealth efficiently between alternative asset classes.