Toilets are crowded as everyone checks their stock accounts—how much further can the South Korean stock market go?

```htmlAmidst the feverish market activity, every day around 3:30 PM recently, the "employee restroom" becomes packed, as everyone is busy checking their stock accounts. Korea's "full restroom" phenomenon is similar to the "shoe shine boy rule," both hinting in some way that the capital market may be locally or fully overheated. In the history of the capital markets over the past century, a golden rule has proved reliable: avoid crowded places, as there's a risk of being caught in a stampede. Behavioral finance has found its footing in the investment field because it's difficult for human nature's inherent weaknesses to be overcome. Seeing investors around us profit, most people inevitably chase after hot sectors and stocks. The key to success in investing is precisely in contrarian positioning: buying when no one is interested, selling when the crowd is bustling. Regardless of whether the AI wave will push the semiconductor industry into an ultra-long boom cycle and reduce the cyclical nature of the sector, judging from market behavior, the secondary semiconductor market currently shows signs of overheating. "Buying when no one is interested, selling when the crowd is bustling" requires second-level thinking. Howard Marks, chairman of Oaktree Capital, mentioned in his book "The Most Important Thing," that most investors are stuck in first-level thinking, believing "if a company is good, buy its stock," or "if the economy is bad, sell stocks"—these ideas are simple and intuitive, and almost everyone can do them. However, second-level thinking goes a step further: "Although the company is good, everyone thinks it's good, so the stock price might already be too high, and it might actually be time to sell."```