This week marks the 25th anniversary of the peak of the dot-com bubble. In retrospect, there were signs that the market’s ...

Li’s sense of when to sell is also a marvel. He divested a controlling stake in the UK mobile-phone operator Orange in 1999 for about $15 billion, near the peak of the dot-com bubble.

The dot-com bubble was a period during which rampant speculation and bullish investment led to the overvaluation (and subsequent crash) of the young internet technology industry on Wall Street.

Internet startups with “dot-com” slapped on the end of their names and little more than ideas to sell to investors had soared to astronomical valuations over the previous five years.

The Nasdaq-100 took more than 15 years to return to its dot-com-era peak. One investor who saw the crash coming sees echoes in today's AI craze. This week marks the 25th anniversary of the peak of ...