This time isn't different, really
"The four most dangerous words in investing are: 'This time it's different.'" — Sir John Templeton
Bubbles and crashes happen with surprising regularity; bull and bear markets both come to an end.
"There are no new paradigms. Everything old simply comes around again, just packaged somewhat differently. When folks are ignorant of history or fail to see the similarities, they are unable to cope with current events. This results in a sky-is-falling, self-destructive reaction. Instead, an understanding of cycles will provide insight for rational action," Fragasso says.