The Overconfidence Cycle in the Bond Market

Sally Kohn: I think fangs peaked earlier this year, sometime in the summer. She says it's remarkable how quickly they've gone as companies from do no wrong to do no right. It has serious implications for big tech and is Facebook an American technology company or is it a global technology company? SALLY KNOT: We don't gently move back to being confident. Overconfidence bursts. You know, you realize that you are, you know, way out over your skis and shouldn't be.