Tech stocks are shaking off their rocky start to the year, the NASDAQ 100 hitting a new all-time high,

once again, yes yet again, the comparisons to the tech boom of the late 90s.

It is Monday, January 22nd. Welcome to the Tech Check

podcast. I'm dear Dr Bosa with Mark Gilbert. Good morning Mark. Welcome

back. Hello, Dee, thank you very much. A note over the weekend caught our eye from a veteran Wall Street

strategist by the name of Ed Yardenny, who would be familiar to the C. M.C. audience writing that

potential Fed easing risks fueling a writing that

a rational exuberance,

irrational exuberance similar to the late 1990s.

He even asks in this note over the weekend,

is NVIDIA today's Cisco noting that it's

quote starting to remind us of the parabolic ascent of Cisco stock during the

tech bubble of the the 1990s. I know this always sort of comes up whenever there's any moment of

tech all-time highs, but what do you think about this comparison?

So irrational exuberance, I thought this has been like a phrase that's been in our lexicon forever, but it actually comes from somewhere from history.

And it was this phenomenon discussed by former Fed Chair Alan Greenspan in a very famous December 5th 1996

speech titled The Challenge of Central Banking in a Democratic Society but

basically this is what led to the irrational exuberance of the dot-com bubble and that is what

Ed Yredenny is making reference to and the idea that if you don't cut when you're supposed to

it can create a bubble in the stock markets that can lead to an

eventual crash. Gilbert, we've been talking about this for the last year or so, right? Because there's always these comparisons when

tech starts to go crazy and certainly AI-Mania has was these to 2022. We saw the whole sector go down a leg, raising comparisons. This isn't new, but the start

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