when a financial mania occurs and then subsides, the asset class that the mania was focussed on is typically shunned for at least a full generation
read any of the classic literature on financial manias and they discuss this
That classical literature needs to be updated. Consider the largest stock bubble in 80 years peaked a mere 5 years ago, yet the percentage of 401Ks invested in equities is near an all time high today. I wouldn’t consider that being shunned for a generation. That is, unless we are talking about a generation in dog years.
