The idea of timing a bubble is seductive, but it’s close to impossible in practice
Why people stay in bubbles. They think they are going to be the ones to get out at the right time.
Value managers who stuck to their guns in the late 1990s had often lost their jobs by the time the bubble burst. Even if you know you’re in a bubble, the conventional wisdom goes, it’s best to stay with the herd.
John Authers Bloomberg 27 October 2021
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