Portfolio Update #11: It's 1998
History repeats
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“The four most dangerous words in investing are: ‘this time it’s different.’” — John Templeton (average annual return of over 15% for 38 years)
As the Nasdaq continues to rise, voices warning about an AI bubble are growing louder, a phenomenon we have increasingly witnessed since 2025. So, what happened back then then and what is happening now?
