What an extraordinary period in markets this is. I haven’t seen anything like this since the peak of the dotcom bubble.
When prices are moving irrespective of, or even inverse to, fundamentals, it is very hard to remain disciplined in the investment process. It becomes easy to give in to FOMO (fear of missing out) and buy whatever stock or group of stocks are rising and buy into the “it’s different this time “ or “new normal” argument.
It’s not different this time