The best example in history of overconfidence in stocks and money

sannachrisoffici sarf
8 min readDec 8, 2020


The euphoria was out of control. It resulted in a massive recession and a collapse in stock prices. Look at the chart above. The 2000s Dotcom Bubble is tiny compared to the stock bubble we’re in right now.

Don’t tell me. I don’t want to know. I just need white women to know. I need you, white women, to figure it out. And until you do, you can go to Target but you cannot be of Target.
Times have been wild. We want to feel safe again. The last 24 hours have been especially wild and exceptionally offensive. As of five minutes ago, almost 68 million people in this country who experienced four years of Donald Trump’s irascible, sociopathic administration voted for him again. Biden and Harris may eventually win this thing but they will not have won a clear mandate. And, they may not be able to govern with the basic mandate they’ve won.
Retail investors are still flocking to stocks, fuelled by cheap investing advice you can get from places like Youtube, that sheepishly says “buy stocks.” As a result, retail investors are currently willing to pay about double the historical average for stocks (see chart below — average is around 16).

I do know that until you work it out, you have not earned the right to retreat into basicdom. The comfort of banality should not be yours until you figure out how to deprogram that 55% or how to make them irrelevant. Mindless consumption is partly how we got into this mess. Those “Live/Love/Laugh” signs were clearly secret political warfare on the hearts and minds of white women across this nation. What the hell was happening in those organic wine clubs, exactly?

Never have we needed the mindlessness of basic cultural consumption more. But we haven’t earned it. Well, some of us haven’t earned it. Since basic is about a certain type of white womanhood, let’s talk about white women and this election.

Don’t tell me. I don’t want to know. I just need white women to know. I need you, white women, to figure it out. And until you do, you can go to Target but you cannot be of Target.

Stock prices reflect overconfidence and hype. Stock prices are predicting the future — where the economy bounces back strongly. If that doesn’t happen then stock prices will have to adjust to meet reality.

Into assets like stocks. Historically, if you own stocks, then great. You will make money. If you don’t own assets like stocks, your money is devalued and your purchasing power decreases.One of the biggest stock bubbles in history was the Dotcom Bubble. It was during the dawn of the golden age of the internet where anyone with a website and a bobsled looked like a hero you should throw wads of cash at.Institutional investors are aware of the problem and place their spare cash into financial assets like stocks to retain their purchasing power. They’re happy to do this because they know The Federal Reserve has their back and will cover up any cracks in the financial system with freshly printed money.

Seriously, there is a lot to be said about how and why white women’s support for Donald Trump actually outperformed (however slightly) 2016. Maybe it’s religion. Maybe it’s internalized sexism. Maybe it’s uncut racism. Whatever it is, it is a political problem no matter who ends up winning this election.

How to become a data scientist? In this article, I provide a hypothetical learning path to become a data scientist. This guide mainly consists of online free resources and is made for people who want to learn data science. If you are already a data professional, then you can ignore the first sections and jump to the sections containing resources to remain updated. As with every list, this one is far from being complete. If you have good suggestions, please leave a comment!

At this point, this is a family conversation. There is nothing that Black books about feminist rage can do for you now. There is no shortcut through Black lives. White people are going to have to work this one out for themselves. The wellbeing of the rest of us kind of depends on it.

The contrarians argue that it doesn’t matter if stocks are overvalued by 200%. “Buy and hold has always worked,” they say. That logic only applies if you live in a bubble.

The Federal Reserve controls how much money is in the US economy. Right now they are creating money out of thin air as the central bank. So far they have created trillions of dollars from nothing.
Paying tax is something everybody notices. The cost of printing money out of thin air and devaluing your purchasing power is something many people are unaware of. So, central banks and governments keep doing it.
Basic is about a kind of consumption. It is the mindless intake of tepid cultural tastes. Basic isn’t really about the Pumpkin Spice Latte or the cottagecore home design or the Hallmark Christmas movies. Those are just signifiers. Basic is about the cultural production and consumption of an apolitical relationship to the everyday world that inocculates the basic from being offended — and perhaps most importantly — from being offensive to others. A basic bitch is, above all, safe.