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Fun Fact about the Great Depression - RCA is the Poster-child of exuberance and Tesla has had a higher PE for >2 years. Meme stocks might coincide with meme co

Fun Fact about the Great Depression - RCA is the Poster-child of exuberance and Tesla has had a higher PE for >2 years. Meme stocks might coincide with meme coins - but I don't know if it's fair to blame crypto for everything. I think the reality is that - for whatever reason - people are willing to take on MUCH greater risk today for reward than they were prior to the pandemic. I don't think we can blame crypto for everything. Sure, maybe you could say crypto has been meme-ing since 2017 - 3 years before the pandemic. But we've seen plenty of speculative bubbles like that - if it even was one. Crypto didn't really start meme-ing with clearly bullshit NFTs and meme coins until the exact same time - 2021 - when Dogecoin et al have meteoric rises coinciding almost exactly with all the meme stocks. I think this is actually one the best meme indicators: https://coinmarketcap.com/currencies/dogecoin/doge/btc/ https://coinmarketcap.com/currencies/dogecoin/doge/btc/ The Japanese Asset bubble was by far the biggest bubble of all time - and it lasted nearly 6 years. The Nifty 50 was a 7 year bubble, nowhere near this big. So, we might be in a bubble - but if we are - it's getting close to being the biggest, longest one ever.

jt2190 9mo ago
> I think the reality is that… people are willing to take on MUCH greater risk today for reward than they were prior to the pandemic. I’ll quibble that people have no idea of the risks they’re taking. I read somewhere that amateur stock traders spent something like 4 minutes researching their purchase. Balanced portfolios are just too boring and tedious.
- mrguyorama 9mo ago
  They don't want to invest. They want to gamble.
carlosjobim 9mo ago
> I think the reality is that - for whatever reason - people are willing to take on MUCH greater risk today for reward than they were prior to the pandemic. Yes. Because if you don't make a successful high-risk high-reward investment, you will spend your entire old age in poverty. There won't be any retirement benefits for workers.
beeflet 9mo ago
dogecoin has tail emission vs bitcoin which has a finite emission. that is also something to consider. Maybe better to compare market caps? Dunno. Also, over time we have seen the development of more non-doge memecoins.

jt2190 9mo ago

> I think the reality is that… people are willing to take on MUCH greater risk today for reward than they were prior to the pandemic. I’ll quibble that people have no idea of the risks they’re taking. I read somewhere that amateur stock traders spent something like 4 minutes researching their purchase. Balanced portfolios are just too boring and tedious.

mrguyorama 9mo ago
They don't want to invest. They want to gamble.

carlosjobim 9mo ago

> I think the reality is that - for whatever reason - people are willing to take on MUCH greater risk today for reward than they were prior to the pandemic. Yes. Because if you don't make a successful high-risk high-reward investment, you will spend your entire old age in poverty. There won't be any retirement benefits for workers.

beeflet 9mo ago

dogecoin has tail emission vs bitcoin which has a finite emission. that is also something to consider. Maybe better to compare market caps? Dunno. Also, over time we have seen the development of more non-doge memecoins.