Were you around in 1999? Everyone knew stock prices were absurdly high, but why not buy this one, just to say you have it? Like the NFT craze a few years ago?
We're at over a trillion in margin debt in the US stock market now, according to some reports. That's a few thousand $ per capita here, though some of that comes from abroad, some is used for options or complicated shorting strategies or whatever, but like some successful pros point out, black swan moments happen with regularity, though unpredictable, a "not a question of if, but when"
