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How to Avoid the Pitfalls of a New Tech Bubble: Matthew Lynn

Initial public offerings. Big takeovers. Nerdy 20-somethings getting rich quickly. To borrow a phrase from an old Prince song, the markets are suddenly partying like it’s 1999 again.

The tech bubble is back. Facebook Inc. is commanding an enormous valuation. So are Groupon Inc., Twitter Inc. and Even Rovio Mobile Oy, the small Finnish company behind the hit app Angry Birds, looks like it will soon be worth a fortune.