Markets are even crazier than in Cotcom times

Omaha Charlie Munger, confidante of star investor Warren Buffett and vice president of the holding company Berkshire Hathaway, believes that the markets are currently heavily overvalued in places. The investor said on Friday at the “Sohn Australia” conference in Sydney, as reported by The Australian Financial Review (AFR). The current events are even crazier than the end of the dot-com boom of the 1990s, which led to a wave of bankruptcies.

Back then, a bubble had formed from high profit expectations and speculation about high stock prices for new technologies. Innovations such as the Internet revolutionized the technology industry back then. Then in 2000 the bubble burst as a result of excessively high expectations that could not be met. Some companies went bankrupt.