I was there, Gandalf. I was there 3,000 years ago when pets.com went to zero.
And it was a wild goddamn time. I’d already exited the market completely. I watched many friends and acquaintances go bankrupt. Some who did not were paying off margin debt for nearly a decade after that. It felt like an end of things. And then came 9/11 and a truly new era began — one we were still in until Trump 2.0.
Now, something more malignant is on the horizon than we could’ve even imagined back then. History is returning with a terrible vengeance and none of us are ready.