In retail investing, do the "blind lead the blind?" Such was a question I asked recently about young investors who are "Long Confidence And Short Experience." However, a recent survey by MagnifyMoney dug much deeper into the subject.
Our previous article's gist is that throughout history, markets have a way of separating investors from their money. Such is the reason every great investor in history has one rule in common: "Don't lose money." The reason, of course, is that if you lose your capital, you are "out of the game."
As I noted, the market's current speculative behavior is not uncommon throughout history.
"Bubbles are characterized by extreme predictions, tend to dominate conversations and induce people to leave their jobs. The warnings of bubble skeptics get invariably met with scorn and derision." – William Bernstein