Spac rap and Musk music? Time to sell
A wise investor once told me: when your taxi driver is recommending a stock, it’s time to sell. The idea is that once retail investors have spotted a big opportunity, it has already evaporated. What about when they’re playing it on the car radio?
I have nothing against modern music. Nothing apart from the horrible way it sounds, of course. But when singers start giving stock picks, I have to wonder whether even the taxi driver should be selling. Case in point: ‘Spac Dream’, a new song by retail investor and musical artist Cassius Cuvée.
This Buffett-turned-Biggie has written and performed a catchy ditty about one of the latest stock market trends. In his rap and accompanying video, Cuvée, decked in a hoodie and gold chain, tells us: "We sick of IPOs, day one lockin' us out." He goes on to describe the benefits of a Spac, going so far as to discuss "due diligence" and find rhymes for "ESG".
"Bill Spacman, help me pay my bills. And I can't forget the Stock Watch, that boy got skills."
I remember in days of yore when rappers boasted about their bling. Are Spacs a step up? Perhaps. But they may end up being a tad more expensive in the long run.
It’s not just Spacs taking the music world by storm. Hip investors can dance it out to Elon "Techno-king of Tesla" Musk's new NFT jam. The song about non-fungible tokens throws a voice repeating the acronym "NFT" over a techno beat. The only other words in the song are "NFT for your vanity. Computers never sleep. It's verified. It's guaranteed."
I doubt these earworms will be blasting from the earbuds of many bankers, but then again, I thought the internet would be a passing fad.