Peter Atwater on manic behavior: The Beatles, Beanie Babies and Tesla

Many will suggest that manias and panics routinely come and go, but history strongly cautions that they cluster. The Beanie Baby Bubble coincided with the peak of the dot.com bubble, and Beatlemania marked the mid-1960s market and mood peaks...

While Tesla may be followed by an even more extreme investor flash mob ahead, the recent clustering of manic behavior cautions not only that sentiment is topping, but that the current peak is extreme. Based on crowd behavior, 2020 could easily bookend the major 2011 low.

~ Peter Atwater, Financial Insyghts, "Tesla: A Flash Mob With Money," February 10, 2020