Seeking Alpha by Adding Beta

This year's memorial day would be a stark contrast to 2020's gloomy and uncertain memorial day. Thanks to extraordinary success of vaccination drive, America is back in action celebrating Memorial Day remembering ones who lost their lives protecting Americans, travel, barbecues and start of summer season (including summer movies). This memorial day weekend has special meaning as it can also be marked as start of post-covid America. Nearly 2 million Americans would be flying this weekend. Couple of much awaited movies (A Quiet Place Part II and Cruella) would revive theatre going experience and cinema theatre companies like AMC (more on this later).  This weekend also marks centenary of one of the most unfortunate events in American History which not many people know. 100 years back White supremacists massacred and destroyed Geenwood neighborhood in Tulsa, Oklahoma which was also called Black Wall Street (I came to know about this when I was watching "Watchmen" series ...

I have written about various bubbles in my previous posts and invariably I give example of first known financial bubble called " Tulipmania " which happened in 17th century in Netherlands. Since then every few years we have seen such mania - after all humans do not change. Every generation have their own bubble. During Tulipmania, price of one Tulip bulb exceeded price of average home. In 90's we saw valuation of dot.com companies based on how many "eyeballs" these companies have on their web-sites. As soon as people realized that eyeballs cannot be valued as real assets, the bubble burst. In today's generation, we have "dogecoin". This was created as "joke" crypto-currency in 2013. In 2021, it has gone up by 120,000% despite having no real value. In yesterday's SNL hosted by Elon Musk, Elon's mother hoped that her mother's day gift is not a "dogecoin" which Elon replied "Yes it is". Why do people chase bub...