Dear Millennials: Your Generation Is Making the Exact Same Mistakes We Did in 1999 скачать в хорошем качестве

Dear Millennials: Your Generation Is Making the Exact Same Mistakes We Did in 1999

I'm 98. I lived through the dot-com crash of 1999-2000. I watched an entire generation destroy their wealth. Now I'm watching millennials and Gen Z make the EXACT same mistakes. Different assets (AI stocks, crypto vs dot-com). Same psychology. Same outcome ahead. The 7 identical mistakes (1999 vs 2026): MISTAKE 1: "Valuations don't matter" 1999: "Internet changes everything. P/E ratios obsolete. Look at eyeballs and page views." 2026: "AI changes everything. Traditional metrics don't capture potential. Look at AI integration." Truth: Valuations ALWAYS matter. Most internet stocks went bankrupt despite internet being real. Most AI stocks will fail despite AI being real. MISTAKE 2: FOMO overload 1999: Everyone getting rich day-trading. Can't miss out. 2026: Social media full of portfolio gains. TikTok millionaires. Reddit YOLOs. Truth: Survivorship bias. You only see winners. Early investors sell to you at peak. You arrive late, get destroyed. MISTAKE 3: "Diversification is for losers" 1999: Abandoned balanced portfolios for 80-100% tech. 2026: Abandoned total market funds for concentrated AI/crypto. Truth: Concentrated tech investors lost 70-80% in 2000-02. Diversified investors fell 30-40%, recovered faster. MISTAKE 4: "Professionals validate this" 1999: "Tiger Management, Janus buying. Smart money agrees." 2026: "Cathie Wood, top funds buying. Institutions validate." Truth: Professionals protect careers, not your wealth. Being wrong with consensus keeps job. Being right alone loses job. MISTAKE 5: "I'll sell before the crash" 1999: "I'm not stupid. I'll time the exit." 2026: "I'm watching carefully. I'll get out first." Truth: Nobody times the top. Nasdaq peaked March 2000, but multiple fake crashes before. Real crash happened fast. By time you knew, down 40-50%. MISTAKE 6: "This time is different" 1999: "Internet fundamentally transformative unlike past technologies." 2026: "AI fundamentally transformative unlike dot-com bubble." Truth: Internet WAS transformative. Most stocks still died. Technology being real ≠ valuations justified. MISTAKE 7: "I'm young, I can take risks" 1999: "I'm 30. Decades to recover. This is when to be aggressive." 2026: "I'm 28. 40 years to retirement. Fortune favors the bold." Truth: Young = afford market risk, not stupidity risk. 30-year-old all-in on tech in 1999 took 15 years to recover. Age 45 with savings of age 30. What happened to us (2000-2002): Nasdaq: 5,048 → 1,114 (-78%) Individual stocks worse: 50% fell 90%+, hundreds to zero Recovery: 15 years to break even (never in real terms) Real people I knew: gains) Maintain diversification (60-70% total market, not concentrated AI) Ignore professional consensus (bubble thinking, not validation) Don't time the top (can't sell before crash, don't buy bubbles) Remember it's never different (every bubble has narrative) Use youth for patience, not speculation (compound decades, don't gamble) My message to your generation: I'm 98. Not selling anything. Don't want to watch another generation destroyed. We made these mistakes in 1999. Destroyed wealth for millions. Delayed retirements. Decades of financial stress. You're making exact same mistakes in 2026. Please learn from ours. Simple path: Diversified index funds, patient accumulation, reasonable valuations. Boring. Works. Exciting path: Concentrated bets, follow crowd, "this time different." Thrilling. Then devastating. Choose differently. Your future self will thank you. #Millennials #1999Crash #DotComBubble #GenZ