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You have heard that phrase as it describes an overheated IPO market.

I have heard it as I meet founders of some start-ups that believe they are close to an IPO, even though they have little to no revenues. See this Wikipedia entry.

Tulipmania is and was real.

Here is a fantastic documentary film that deals with the actual phenomenon of Tulipmania, in an age when tulip future contracts were becoming a part of a trading currency. The market expanded and died - in short order.

This is a very instructive film for us all to see, on Watch this weekend; be careful where you invest your money.