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The Nasdaq 100 went from 398 to 4705, up 1082%, in five years. Back then, Cisco was selling the picks and shovels—whoever built the roads made money. Now Nvidia is in the same position. Bubble or no bubble, first look at how long the shovels keep selling. So what’s the conclusion? I haven’t figured it out yet either.

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CSCOCSCO-2.05%
NVDANVDA+2.80%


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