GroupStink

One thread that perfectly captures investor sentiment from the summer of 2021

Take yourself back to the summer of 2021. After the fastest retracement of a bear market in modern history, the S&P 500 was sitting ~85% above its 2020 low. The bull market was firmly back. Anything you bought made you feel like a genius. NFTs were taking over. Bitcoin was $40,000. Teenagers were selling courses to adults on how to trade options. The blind were leading the blind. It was a wonderful time. It was the best of times.

Then someone¹ asked Twitter; “What company is worth less than $10 billion today but you think could be worth $500+ billion in a few decades?”. The thread originally had more than 710 responses, and the author highlighted the top 20 common responses that have “50x potential”. I noticed this thread doing the rounds recently after someone resurfaced it and wanted to add some context. In what has now become a legendary snapshot of investor sentiment during the summer of 2021, the results are telling. With the exclusion of Ozon, which was delisted from the Nasdaq i…