Yup. It really boils down to human nature. Which is sexier, a stock whose cash flows and business are well understood, or a stock like Amazon whose "potential"

Yup. It really boils down to human nature. Which is sexier, a stock whose cash flows and business are well understood, or a stock like Amazon whose "potential" could possibly take over the world? It's hard to let your imagination run wild about the potential upside of an investment in a boring blue chip that is in the business of making regular profits, but whose margins, market, competition, and overall arc of the business are well established. But in an environment where the stock market is at an all time high, people are ready to believe that Amazon is just a few knobs being turned away from world domination.