How do you know when a bubble has popped?
Twenty-five years ago on Monday, a multiyear US stock rally hit its peak and began a precipitous decline that would wipe 77 per cent off the value of the Nasdaq by the time it finally cratered two years later.
These days, the dotcom bubble has become shorthand for foolhardy enthusiasm for new technology and blind greed. So many investors were throwing money at blatantly unprofitable internet companies that the markets were bound to come to grief.
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