Are we in a bubble? There are lots of signs there and John Dvorak has some good points. How will it end? Well, we don’t know, right, they don’t really end the same. However, what we do know is that it’s not ready to pop, simply because Dvorak is warning about it. As Fred Wilson astutely points out, “The market climbs a wall of worry and we rarely top out when there is a lot of negativity.”
Let’s all recall 1997 and 1998 when people were still fretting about the frothiness of the Internet investment. By 1999, 2000, all of that worry had been overcome because it had been around for such a long time…and nothing bad had happened. It’s not until the very last fool jumps in that you realize that there’s nowhere to go but down.