FYI: I’ve read many books on the history of financial markets (like more than four dozen) over the last 20 years. I eat, sleep and breathe this stuff. One of the common threads of every financial or asset bubble throughout human history is that they all have a repudiation phase – a moment where all the lies that had been built up alongside the excess are aired out in public. Even reputable companies and players get caught up in it.
As Jeff Lebowski said, “New shit has come to light, man.” In the repudiation phase, belief is nowhere to be found. Skepticism becomes the order of the day
Regards,
Ted
http://thereformedbroker.com/2016/05/09/the-repudiation-phase-of-the-bubble/
