Gotta love another bubble. It’s delightful to watch people failing absolutely to learn from history, convincing themselves that “this time it’s different” and projecting hilarious future prices. The only disappointing aspect is that we have not yet seen someone proclaim “Tesla will be $20,000,000 per share by 2025!” Clearly someone will make a fortune shorting Tesla stock, but as we all know, timing is everything. No one so far has ever been able to predict exactly when a bubble pops. Maybe it’s time serious research, focused largely around behavioral psychology, attempted to solve this problem. After all, we only have tiny ape-brains and we operate in extremely predictable ways, so it ought not to be an intractable problem.
Oh, and anyone doubting that we have tiny ape-brains need only look at the current price of Tesla stock to confirm the validity of this statement….