The huge double top of the 1970’s market looks familiar to the market 1999 to 2007.
Then from 2009, we mirrored the market of the 1980’s
And the eighties morphed into the nineties, which was the most ridiculous bull market ever.
Many things were different in the seventies and early eighties, PE’s were lower, thus returns should have been expected to be higher. The nineties saw some crazy valuations however…on the back of the birth of the internet.
Well currently we have the Internet II, on really, really low interest rates, with no end in sight. Undercover inflation is everywhere. Stocks are one way to hedge inflation.