Just over a year ago, we warned that while the world of speculative capital is focused intently on the Twitter (TWTR) and Facebook (FB) fundamental valuations in the publicly-traded equity markets, the real dot-com 2.0 bubble is occurring in the private markets. Few paid attention, preferring the head in the sand "well the music is still playing" meme; but one (or two) billionaires noticed, and with all eyes intently focused on Nasdaq 5,000 (as some indicator that we made it back to Nirvana), Mark Cuban unleashes incontestable exposition why is this bubble far worse than the tech bubble of 2000.

It is different this time... and, as Mark Cuban explains, far worse...

Ah the good old days.  Stocks up $25, $50, $100 more in a single day.  Day trading was all the rage.  Anyone and everyone you talked to had a story about how they had made a ton of money on such and such a stock. In an hour.  Stock trading millionaires were being minted by the week, if not sooner.

(read full article here)

Of course, tomorrow's mainstream business media channels will trot out various asset-gatherers and commission-takers who will denigrate Mr. Cuban's clarifications - just as they did Janet Yellen's Biotech warnings last year - but the question is: who do you believe? The billionaire with no ax to grind or the market maven "TV personality" with vested interests up the wazoo?

If examples are needed, see below...

Click image for interactive and sortable WSJ infographic

Source: WSJ