“March of 2000, of course, was the peak of the internet bubble.”Small investors are holding less cash than at any time since March 2000.
This means that small investors are pulling money out of bank accounts, where returns are low, but the accounts are guaranteed, and putting the money in the stock market seeking greater returns.
Time for another crash in the market, because as a group, small investors are the idiots who enter the market just before they run out of idiots.
Person writing this, Joe Weisenthal, clearly thinks so too, or he would not have referenced the dotbomb bust in the last line of the article (reproduced as a caption to the chart pr0n).