People looking for a bubble in the broadertech sector tend to watch biotech moves because those companies --- often venture - backed and often beckoning with potentially explosive results — are considered barometers of how much appetite investors have for risk.
It is easy to understand those investors» frustration when the wealth generated by the Russell 1000 Value Index (and most value managers) was fully 24 % less than the broad market Russell 1000 Index over the last three years of the techbubble.