Measuring The Mania

Turning our attention to the late Yahoo (now a funky holding company with the unfortunate moniker of Altaba…….):


Its rise was even crazier, from .70 to 125, which is 180-fold, giving us a target price of about $30,600. And, since one guess is as good as any other, let’s go with that. It’s a mere 1/10th what the Winklevii are calling for, and who knows, they may well be right. But at least loony Yahoo in the late 1990s give us SOME basis for just how high the public might bid up a totally new financial instrument before greed gives way to fear, and it all comes tumbling down to something a little less tethered to stark, raving madness.

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