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It is worth saying again that while the reasons for the share boom are mostly positive – the mounting evidence that the recovery is more secure – there is also the less reassuring thought that if things falter, central banks will print more money to keep the show going.
The energy and gold boom of the 1970s, which came to an end in 1980, was followed by the Japanese share boom of the 1980s, which in turn was followed by the U.S. stock market boom of the 1990s.
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The other factor making China's bike-sharing boom stand out is the technology.
It is small comfort to the music business that at the peak of the file-sharing boom, some 1.1 billion infringing files were available.The recording industry has pursued the illegal file-sharers vigorously since Napster's closure as a pirate service in 2001.
Before this sharing boom, I'd rely on my Facebook network when I needed help.
The housing market and equity in shares boomed for most years until 2007.
The value of those supervoting shares boomed as TeleCommunications expanded under its chairman, John Malone.
And there is an infrastructure to help start-ups survive, including a score of law firms that cater only for new tech companies, specialist accountants, and so on.Yet even if all these trends last and cynics point out that similar things took place, temporarily, during previous tech-share booms in the 1960s and 1980s, albeit on a smaller scale a huge risk remains.
Time shares boomed in the 90's, vaulting the industry from a modest $300 million business in 1978 -- when it was plagued by what Malcolm A. Noden of the School of Hotel Administration at Cornell University called the high-pressure "silk shirt, gold chain crowd" -- to an estimated $3.5 billion industry in 1999.
How Royal Mail shares boomed after flotation has been well covered, but as well as probing on whether the company was sold on the cheap, the committee may also want to ask their guests why a secret group of pre-selected investors – which excluded many UK pension funds at the expense of foreign sovereign wealth funds – was assembled for cosy meetings prior to the float.
The bank's credit culture is consistent throughout the cycle, meaning that it loses market share in boom times and wins business in environments like this one.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com