But unlike the last dot-com bubble, at least these companies actually HAVE measurable earnings.
That’s an important point. During the Dot.com bubble day trading and margins were out of control. People were bidding up vapor companies with nothing behind them but a start-up idea.
While the current market may be a bit frothy, outside of stupid companies like Twitter, there is justifiable value in most companies. The US economy is pretty good right now and looking better down the road. Absent of international event, the US stock market looks pretty good to investors outside of the US.
I’m not discounting any corrections, but long term I’m staying in stocks. It’s going to pay off. There are always risks.
Also, the most prominent dot-com companies of today—Facebook, Google and Twitter—all have at least a reasonable advertising stream to keep their business going. Google’s successful advertising model that came out the 2000 dot-com crash became the model for modern tech companies to follow.