Whenever traders speak about bubbles, they usually cite some anecdotal evidence that demonstrates just how irrational investors have become. By the late stages of the Nasdaq bubble, it was impossible to go anywhere in the U.S. – to a party, to the grocery store, to your dentist – without hearing about the booming U.S. stock market. Well, here is the latest symptom of investors gone wild - a hit song in China contains the following lyrics:
Use intuition to buy stocks and make money
I won’t be excited unless my investment goes up multiple times
I won’t be excited unless my investment hits irrational highs
As stock investors, we must persist
From: “I Won’t Sell Even if I Die” by Kaijie Gong
As bad as the Nasdaq bubble was in the year 2000, I can’t ever recall hearing Shania Twain or Metallica singing about the markets back then.
Here's the link to the article:
http://www.yomiuri.co.jp/dy/world/20071111TDY04302.htm
