Yeah, but then some of them actually do what they said they were...

Yeah, but then some of them actually do what they said they were going to do, and the SP does what it was supposed to do. Many years later you look back at the chart to identify the pivot point - the moment things changed, that key point where you always say 'I wish I had of bought xyz company at that point'. The pivot point is hard to find, in fact so is the massive spike that occurred prior to it on pure speculation. This is because the scale of the Y-axis on the chart has expanded by many multiples and it's hard to pick the early years speculative tops from the capitulation lows. Those whole 4 years just look like the time when 'you wish you bought company xyz at that point'.