In the middle of a mania, common folk are transformed into investment sages. From cab drivers to soccer moms, everyone seems to be smitten with investment fever. But, these are not ordinary times, nor are these ordinary markets. Nobody talked like this five years ago before dot com fever . The horrors of bear markets have faded away.
Nobody remembers what it was like back then.
Reality is what is before us. Most think if the market does fall, it's a buying opportunity. Most investors think that like recessions, bear markets have also been repealed. Perhaps it's because of the excitement of dot com glitz and glamour that bear markets have been all but forgotten. In the middle of a mania, it is human emotion that dominates men's minds.