You shouldn't back-trade a peak in any market. Peaks always look like peaks in hindsight, but there are plenty of rallies that keep on rallying, too. Would it

You shouldn't back-trade a peak in any market. Peaks always look like peaks in hindsight, but there are plenty of rallies that keep on rallying, too. Would it have been nice to sell a medallion on the 2014 highs? Sure. Is it insanity to have bought one there? No. It was simply an investment in rights to a regulated business, which has faced headwinds from unregulated competition since that time. And please keep in mind that a million dollars in NYC isn't the same as a million dollars in Iowa.