Mark Hulbert on timing a bubble

Needless to say, things don’t go up forever.  Those who nevertheless continue to invest in such an environment do so with the implicit assumption that they will be able to recognize it, in advance, when the bubble is about to pop—and therefore able to leave the party before everyone else.  This is a dangerous delusion, however; not everyone can be the first to leave the party.

~ Mark Hulbert, "The psychology of a stock market bubble," MarketWatch, April 24, 2021

Sometimes people are drawn to investing
because of 'gambler's excitement'