Something of a tangent to what you said, but I see other parallels between current events and 1999 - this is what happens when unsophisticated investors gain sh

Something of a tangent to what you said, but I see other parallels between current events and 1999 - this is what happens when unsophisticated investors gain sharemarket access for the first time. It happened in the late 90s in the states (remember those "trading poolside" etrade ads?); it's happening now in China. Only recently you've been able to actively trade and view your portfolio on smartphone apps; it became a kind of game and more and more people piled in. I know people there who were up tens of thousands in paper gains even a month ago and could not be convinced they were basically gambling. Well, they're convinced now :-P I suppose this is the way people learn...