If you think that today's stock market is like 1999, then you weren't around to see the utter madness that was the stock market during the dot com days.
It was sheer insanity how crazy stocks were being bid up. Absolutely valueless companies were bid up 10x by day traders. There was zero sense of fundamentals, and fraud was rampant everywhere. The company I worked for went bankrupt due to financial fraud and many of my coworkers lost hundreds of thousands to millions of dollars.
Right now, we have essentially 2 companies, Google and Facebook, that are throwing billions upon billions of dollars worth of shareholder money to seemingly stupid ideas. And while I'm sure there's still plenty of fraud, you don't have anywhere near the same level of fraud as you did back during the dotcom days. I truly do believe that most companies and more especially CEOs are a lot more cognizant that they will go to jail for financial fraud if they step over the line, so they are a lot cleaner than they were 15 years ago, for the most part.
It was sheer insanity how crazy stocks were being bid up. Absolutely valueless companies were bid up 10x by day traders. There was zero sense of fundamentals, and fraud was rampant everywhere. The company I worked for went bankrupt due to financial fraud and many of my coworkers lost hundreds of thousands to millions of dollars.
Right now, we have essentially 2 companies, Google and Facebook, that are throwing billions upon billions of dollars worth of shareholder money to seemingly stupid ideas. And while I'm sure there's still plenty of fraud, you don't have anywhere near the same level of fraud as you did back during the dotcom days. I truly do believe that most companies and more especially CEOs are a lot more cognizant that they will go to jail for financial fraud if they step over the line, so they are a lot cleaner than they were 15 years ago, for the most part.