What the SPAC frenzy tells us about the market and ourselves

As Wall Street flits from one craze to the next; GameStop (GME), Bitcoin (BTC-USD) and now SPACs, the message is clear. If only we could act upon it. As a way of looking into this ongoing mania of mini-manias, I’ve turned my attention to the latest boom, SPACs, once a quirky, backwater of a security, now all the rage.

Let’s start with Kap, who has a SPAC.

That being former San Francisco 49ers quarterback, Colin Kaepernick—famous for taking a knee during the national anthem—who has…


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