So today, I would like to share a very important video with you by a growing yet thoroughly underrated YouTube channel by Patrick Boyle- a hedge fund manager, a university professor and a former investment banker. I did not get paid or anything to refer to him- everything I put in this blog is one of a few key ways in which I like to give something back to people who have been kind to me over the years and people who are in pursuit of knowledge and making their lives better just as I am. In the video, Patrick explains the Dot Com Bubble of the late 90's/early 2000's. People, as more and more of us look to the stock market and what goes on with the hottest stocks, as well as what is happening with cryptocurrency, we need to understand the anatomy of a bubble, the opportunities as well as the "creative destruction" that it causes. There is no such thing as enough knowledge or enough caution when it comes to the markets, and videos like the one below are key to ending up on the right side of what is going on today.
Here are a few highlights; I do not consider them spoilers as they are just statements that are incomplete without the context of the entire video:
- Companies like Skip the Dishes have been tried and they failed during the Dot Com bubble.
- Ridiculous companies that now look like they were totally trolling the stock market have raked in cash like crazy- time to identify such companies among today's stock market starts and up and comers.
- You cannot predict which company will come out swinging from a bubble burst carnage- Amazon at one point lost 90 percent of its value!
Do not worry, there is a lot more to hear in the video below. Have a listen :)