Marc Faber warns in his October 2017 newsletter Gloomboomdoom report of the bubble like similarities between 2000 and today. When the current bubble bursts, it will be much severely felt by investors than ever before.
" The April 3, 2000 edition of Forbes Magazine, which unintentionally presaged the NASDAQ's worst week in its history, published an article entitled, ‘Ramp Champs: The Best-Managed, Fastest-Growing Tech Companies in the World.’
A month later these stocks had already declined by 66% from the early 2000 highs, and at the October 2002 low, the NASDAQ 100 Index had declined by 83% from the March 2000 high.
The 2000 NASDAQ collapse - because of its narrow scope - did not cause widespread economic or financial hardship. This cannot be said of the current all-encompassing asset bubble. Whenever it will burst, the economic damage will be considerable all around the world as well as the capital losses to asset holders as there are hardly any places to hide. "
