Apr
21st
Tue
21st
Once the bubble in an asset class pops, it never reflates. “It is simply a truism that bubbles never reflate, ever. Tulip bulb valuations did not rise to stratospheric heights after the Tulip Craze popped, and the Nasdaq dot-com bubble did not reinflate, either, for the very good reason that bubbles are never based on rational valuations—they are based on the psychological state of mania which cannot be reinstated once lost,” Smith writes.
