Semis just pulled off a 237% run in 14 months. That's literally dot-com bubble territory — we hit 234% back then before everything imploded.
Look, I'm not saying AI isn't real or that chips don't matter. They do. But when you see a sector move like this, it's worth remembering what usually comes next when everyone's convinced the party never ends.
Valuations don't stay detached from fundamentals forever. Momentum works until it doesn't. And the higher things go on pure excitement, the uglier the reset tends to be.
You don't have to sell everything and hide under a rock. But if you're heavily concentrated in $NVDA and friends, maybe ask yourself: am I positioned for what I think will happen, or for what I hope will happen?
History doesn't repeat, but it sure as hell rhymes. And right now, it's humming a very familiar tune.
Look, I'm not saying AI isn't real or that chips don't matter. They do. But when you see a sector move like this, it's worth remembering what usually comes next when everyone's convinced the party never ends.
Valuations don't stay detached from fundamentals forever. Momentum works until it doesn't. And the higher things go on pure excitement, the uglier the reset tends to be.
You don't have to sell everything and hide under a rock. But if you're heavily concentrated in $NVDA and friends, maybe ask yourself: am I positioned for what I think will happen, or for what I hope will happen?
History doesn't repeat, but it sure as hell rhymes. And right now, it's humming a very familiar tune.