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That's a nice story but it really doesn't have anything to do with investing. As with all bubbles, people got greedy. They were buying companies run by college kids who had no management experience at all. Most of those companies had no earnings and no hope of earnings, but people kept buying them anyway. Then, the commentators on CNBC started talking about Price-to-Sales ratios instead of Price-to-Earnings ratios. Why? Because you can't have a P/E ratio when you have NO EARNINGS.

The point of all this is: no, it wasn't wrong to invest in tech. But, BUT, it was wrong to sink a significant portion of your retirement into the tech sector. Those who did are now paying the price.

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