"Is it crazy that people are benchmarking today against downturns from 20 years ago or even the 80s?

The entire market is different: the regulations are different, the flow of information is different, and the **investor demographics** have changed.

The only things that never change are fear and greed; however, even for an investor who started in the '90s, their knowledge and decision-making process have evolved significantly over the years.

Why, then, are people still so confident comparing today’s landscape with every previous war or crash?