The Six Constants Of Markets – Caveat Emptor

1) Greed, 2) Grift, 3) Hype, 4) Enabling Delusions,  5) Overshoot, and 6) Shattered Dreams

h/t: The Polish Rifle

Don’t think even the great, but duped Tom Brady can bring this one back.  

Bitcoin is down 50 percent since the onslaught of the Super Bowl commercials trying to sucker in a new pool of greater fools.  One helluva store of value currency. 

The Super Bowl commercials were clearly a signal that marked the top of dot.com mania, which crashed a few months later in March.

Fast forward to the 2022 Super Bowl. – GMM,  February 12, 2022

One Last Thing

The creation of what was once a $3 trillion speculative asset class, created out of thin air and fueled by free money and delusuions with absolutely zero productive capacity, helped feed the inflation we now all experience.  The crypto crash does take some marginal pressure off monetary policy, however. 

The Crypto vs Dot.com Super Bowl

Originally Posted on February 12, 2022 by macromon

#CKStrong

Remember the 2000 Super Bowl at the peak of the dot.com mania, where newly minted dot.com companies spent most of their entire IPO proceeds to buy Super Bowl commercials to generate “eyeballs” to their websites to drive their stock price higher?  

Super Bowl XXXIV (played in January 2000) featured 14 advertisements from 14 different dot-com companies, each of which paid an average of $2.2 million per spot.[1][note 1] In addition, five companies that were founded before the dot-com bubble also ran tech-related ads, and 2 before game ads, for a total of 21 different dot-com ads. These ads amounted to nearly 20 percent of the 61 spots available,[1] and $44 million in advertising. In addition to ads which ran during the game, several companies also purchased pre-game ads, most of which are lesser known. All of the publicly held companies which advertised saw their stocks slump after the game as the dot-com bubble began to rapidly deflate.  

The sheer amount of dot-com-related ads was so unusual that Super Bowl XXXIV has been widely been referred to as the “Dot-Com Super Bowl”, and it is often used as a high-water mark for the dot-com bubble. Of these companies, 4 are still active, 5 were bought by other companies, and the remaining 5 are defunct or of unknown status.[when?] – Wikipedia

The Super Bowl commercials were clearly a signal that marked the top of dot.com mania, which crashed a few months later in March.  

Fast forward to the 2022 Super Bowl.