No. of Recommendations: 3
I spoke to the FA presenter after the talk, and he said that a large number of people that came to him had quit their well-paying jobs based on the huge investment returns they were getting in the dot-com boom. They thought those returns were going to continue, so they quit their day job. Came the bust, and there were a lot of 40-50 year old professionals trying to get another similar high-paying job back.

I seriously doubt that. Most people I know kept their high-paying jobs while playing the market (and laughing at slowpokes like me). Came the bust, and huge tech layoffs, and that's how the highly-paid 40-50 YOs lost their jobs. IIRC AT&T laid off all PhDs from Bell Labs. Any tech company announcing layoffs got a temporary reprieve in the market. Who needs R&D when the stock market is melting and the CEO's options are worthless? Need to juice stock returns!
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