Study markets long enough, and you start to hear an echo repeating through history.
First comes optimism — a new technology, a new idea, a new opportunity. Early believers step in quietly. Then comes excitement. Prices rise, stories multiply, and headlines fuel the momentum. Soon after, euphoria arrives. Everyone wants in. Valuations stop making sense, but the crowd keeps buying.
Then reality shows up.
Prices fall, confidence disappears, and disillusionment replaces enthusiasm. The same people who rushed in at the top suddenly want out.
But something important always follows the wreckage.
After the dust settles, the strongest companies remain — and opportunity returns for those patient enough to see it.
Markets don’t just repeat patterns. They repeat human nature.
Lesson: If you forget history, markets will remind you — usually in the most expensive way possible.