I think it’s tough to say and tie it in directly. My understanding of 2008 is that the over valuations were tied in with residential Real Estate and the associa

I think it’s tough to say and tie it in directly. My understanding of 2008 is that the over valuations were tied in with residential Real Estate and the associated MBS’ (mortgage backed securities - the owners of the loans). Everything else was largely contagion and concern around the sanctity of the financial system. The subsequent crash and economic calamity was focused on home owners, and existed within the financial system more broadly, not just stocks/equities. Maybe a better example is the dot-com bubble - many investors thinking that “the Internet was going to take over” etc etc pets.com. So the thesis at the time was tremendous growth rates for questionable business models. Once it was evaluated as a “bubble” =~= overvalued =~= these set of companies will never make back there money -> a stock price correction occurred.