by Market Anthropology
Like an oak slowly growing in a stand of pines, the outgrowth of sentiment extremes become visible through major market inflection points. The irony, however, is seeing them. This is because on both sides of a market cycle there is a natural tendency for conditions otherwise thought abnormal to become commonplace. As much as we try to anchor our baseline expectations with history, inevitably, paradigm creep sets in as markets and sentiment slowly become stretched beyond more rational assumptions.
They couldn’t see the trees for the forest – until the forest caught fire.
In the late 1990’s as venture capital was seeding manic entrepreneurs with otherwise outrageous business plans, perspective was forsaken for the chance to become the next internet giant. A short time down that road, the pursuit of Amazon quickly gave way to the likes of Clickmango, your one-stop shop for all of your succulent produce desires and LifeJacketStore.com – well, for your many recreation flotation demands…