One of my favorite concepts about life is the idea of asymmetries. They are everywhere but only noticeable to those that pay attention. One good example of asymmetric distribution that is found in our species is the ability of some people to control emotions while others are left in the mercy of their own demise.
I am old enough to have been in a variety of market bubbles. The pattern is much similar everywhere. The early adopters, the media, the idiots that pop it. One would imagine that generation after generation we would learn from our past mistakes - yet emotions seem to get even the best of us. Isaac Newton for example is said to have lost a fortune during the tulip bubble and he was considered one of the most brilliant men in human history.
What is even more fascinating is that those who cannot regularly control their emotions often make the same mistakes. It is almost inevitable and almost predestined due to our very nature. Most people will always keep acting much the same because most people are made up from the genetic expression as millions before them. We are not at all that different from one another.
The rare few, the ones that make up some inventions or the ones being able to separate efficiently their emotions from the rest of their thought process always shine. For example, before the stock and bitcoin market there were signs of some of the big players. All one had to do is start taking some profits whether those were small or big. Very few did. I wrote several articles about the slow death of Bitcoin before it even begun. I did something similar just 2 months ago when Soros decided to go withdraw most of his positions to a charity. Again, I was laughed at. The fools create such as wave of optimism or pessimism that is overshadowed from any criticism or evidence.
This doesn't matter though because even those who were wrong, wont be able to see the next bubble few years from now. The human mind is extremely prone to suggestion. Things are forgotten. More people are born, parents that invested in bubbles withdraw from the situation and the fools inherit once more the earth, waiting to be slaughtered, used and abused from those who can see a bit further. In all fairness though, this is how humanity advanced so fast and this far. Few created the tools, few controlled while the masses constructed the pyramids, fought wars and sparked necessity for innovation.