Steadfast FinancesThe Bubble Decade Documentary

The Bubble Decade Documentary

Filed in Documentary Films , Investing 101 , Investor Psychology 8 comments

Perhaps nothing encompasses the roller coaster ride that was the 2000 to 2009 decade better than David Faber’s The Bubble Decade. If you haven’t seen it, set 45 minutes aside and take a look back at just how gullible we actually were to follow the herd and buy into some of the most hyped, sure thing “investments” in history.

This quote, from the documentary, pretty much sums up ten years of chicanery, hidden truths and hedged bets…

It was a Ponzi Scheme. No doubt about it. – Josh Harris of Pseudo.com

I still prefer to call it the Greater Fool Decade, since every bubble requires a fool to buy at the top so those who got in early (or caused the bubbles) can cash out their winnings.

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Posted by CJ   @   3 January 2010 8 comments
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8 Comments

Comments
Jan 4, 2010
1:00 am

Thanks for highlighting the video! I’m very glad the decade is over.. or at least the past 24 months that is!

Gotta say though, there were definitely plenty of opportunities to make a lot of money!
.-= Financial Samurai´s last blog ..Let “Freement” Reign! Spending Paralysis, Material Lust And Obsession =-.

Jan 4, 2010
3:39 pm

There’s a real danger here of assigning the problems of the last 10 years to the decade itself, as if all the issues will go away by flipping the calender. I think that’s what’s happening now that we’re in a new year and a new decade.

But all of the problems associated with the early 2000s had real causes, and before we pop the champaign bottles and declare a bold new era, we really need to assess wether or not the underlying forces causing the disturbances have really been addressed. If so, it’ll truly be a new decade. If not, we should rationally expect more of the same.
.-= Kevin@OutOfYourRut´s last blog ..7 Ways to Improve the Success of Your New Business =-.

Jan 5, 2010
11:24 am
#3 Tracy :

Bubbles don’t cause bubbles, people cause bubbles. Hopefully, people are learning and there will be a shift in behavior like there was for folks who survived the great depression. Consumers have a lot of clout in their wallets that can determine outcomes if they use it. Hopefully, the changes in their habits will hold and stick. Unfortunately,we sometimes they fail to notice the wolf, dressed as a sheepdog and just run along where he steers us. Here’s to outing the wolves!

Jan 5, 2010
3:34 pm
#4 Matt SF :

Precisely! Stocks, bonds, gold, even tulips, don’t purchase themselves. So there has to be someone out exhibiting wacky behaviors and clicking the buy button.

I look back at this and think about how the process of self-delusion infected everyone else. The idea that “they’re doing it, so we should do it to” kept spreading like an emotional contagion and apparently everyone on Wall Street were infected. All but a few of course, and they were richly rewarded by going against the herd or weren’t hurt at all by not buying the hype.

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