“That’s Not A Bubble. THIS Is A Bubble”
Last week, in a highly amusing note on "FANTASY" stocks, Citi delivered the following glowing endorsement of current tech valuations:
More critically, tech stocks as a whole are not as outrageously priced versus levels seen back in 2000.
See there? You should be confident that tech isn't in another bubble because it isn't "as outrageously priced" as it was during the dot-com boom. Kind of like, "those tulips may seem expensive, but they're not nearly as overvalued as they were during the Tulip M
So basically, don’t worry, just BTFD. After all, only dummies got caught with their pants down in 2000. You’re waaay smarter than those guys.
This will work, until it doesn’t.