Market Bubbles: Technology Changes, Times Change, Human Behavior does not Change
Podcasts > Your Personal Bank with Ferenc Toth
Monday, July 13, 2026
New technology has created market bubbles throughout history. The technology changes, the times change, yet human behavior does not.
The price of an asset ultimately is what someone is willing to pay for it. When there are not more buyers willing to pay the price, the correction starts.
It is not about intelligence. It is about understanding the perceived value and what time it is.
Sir Issac Newton made money in the Tulip Mania in the 1500's and got out. The prices continued to increase. He resisted reentering the market because he knew logically that prices were too high. Eventually, he reinvested near the top, then lost most of his money.
The Climax Rally is often the final cycle of a bull market. Excitement and euphoria are at the highest. It is also the most dangerous and risky portion of a bull market.
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