The 1960's were clearly another "time and space". America was changing and changing at a fast pace. There were scandalous things going on such as the Charles Manson murders, and President Kennedy's affair with Marilyn Monroe. The Vietnam War was hot and heavy, the civil rights movement was full swing, the Watts riot occurred, college kids were protesting and high schools were experiencing riots in their schools.
In the stock market during the 60's, the market boomed ahead with the "technology" stocks of that day. Anything ending with "tronics" in their name shot through the roof. Old line, well established companies who were making steady profits were selling at a fraction of the P/E's of the "tronics" companies, "Tronics" companies had very little profit (if any) compared to their revenues. The valuation differences were as big as the Grand Canyon.
What happened to the "tronics" companies.....? Most eventually collapsed into losses or bankruptcy. And, where did their stock prices go? Well, they went into the toilet.
Many will say that the current AI boom is impervious to the fate of the "tronics" companies of the 1960's, but be careful, We never know what the future holds. The problems of market trends don't become obvious until the past is well behind us.
Are the AI companies of today currently "free-riding" on the future like the “tronics” companies?
"When I find myself in times of trouble
Mother Mary comes to me
Speaking words of wisdom
Let it be
And in my hour of darkness
She is standing right in front of me
Speaking words of wisdom
Let it be "
Hey man. Let it be!
