South Korean government: Memory is a cyclical stock.

Memory company executives: We are cyclical stocks.

Big tech company executives: They are cyclical stocks.

Wall Street and content creators: Memory is no longer a cyclical stock.

Recently, stories have started circulating online about celebrities and KTV hostesses trading stocks, mostly focusing on tech sectors like memory and semiconductors. The impact of this narrative is too obvious. Every cycle peak has such narratives. It's simple: they want capital to keep flowing into these hot sectors so they can exit. While it can't be said that the peak is immediate, this is clearly not a good sign.

Even if you're a complete novice who knows nothing, you should know that when the crowd is at its most exuberant, it's never a good time to get in.