By many standards, today’s NASDAQ 100 and S&P 500 look a lot like they did during the 2000 internet bubble, when the narrative that stocks involved with new technologies could only go up, sending a clear message that complacency (along with valuations) was sitting at an all-time high. As many know, the 2000 internet bubble didn’t end well, wiping out many businesses, and those that survived struggled for several years before reclaiming their previous prices.
That same complacency seems to be returning, particularly around the rise of cryptocurrency and blockchain.
