Is the share market starting to look like it did in 1999?

The phrase ‘dot.com’ has a special meaning for investors, and it hasn’t got a whole lot to do with internet URLs. The not-so-baby-faced investors amongst us would remember the turn of the century quite well. In the years leading up to the year 2000, share markets around the world were on an absolute tear. The dawn of the internet, as we know it today, was in full swing. Companies like Amazon.com Inc (NASDAQ: AMZN) and Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL) were, for the first time, beginning to enchant investors with the possibilities of what the internet could bring for shareholders.

Famously, this excitement turned into a frenzy that has come to be known as the ‘dot-com boom’. Between 1999 and 2000 for example,…