Speculation as Entertainment – Bear Market Edition

This post is by Howard Lindzon from Howard Lindzon

Happy Friday.

Back in October of last year as the market was already ‘tipped’ but the party still going, I wrote a post titled ‘Speculation Is Entertainment Is The New Netflix And Chill‘.

The gist…

With $11 trillion printed since COVID, we should not be surprised that speculation is a new form of entertainment.

Young people collecting NFT’s with fractional ownership and DAO’s, while spending their weekends talking and trading crypto is ok with me.

Before you know it they will know how to invest and that’s a good thing seeing there is a portion of that $11 trillion that will need to be invested and speculated on well to pay for all the wasted trillions.

In Rome, all the free time led to Gladiators, so take it easy on the ‘youts’ please.

Here we are in late July 2022 and it has been one of the worst years for technology growth stocks and I have noticed that ‘Speculation as Entertainment’ is alive and well.

I was golfing with my sons friends a few weeks back and the guys were on some random sports wagering site betting Jai alai. They had never seen the sport live. It was NOON. It was just part of their workflow because of the smartphone, apps and legalized gambling. I enjoyed chatting with them about the whole thing while having a good laugh.

On Stocktwits, I have noticed the $SQQQ ticker and stream trending often the last few months. This is the three (Read more...)