This is a delightfully succinct way to put it, going to steal this one!

The phrase "irrational exuberance" is sprinkled throughout John Bogle's book, Don't Count On It. (At least I think I'm remembering that correctly. But some Google brought up Alan Greenspan as using the phrase a lot.)

If you don't recognize the name, he founded Vanguard and the first index fund.

Greenspan gave it to the world:https://en.m.wikipedia.org/wiki/Irrational_exuberance

If you look at P/E then the current "collapse" isn't nearly as worrisome and realize it's just the inevitable result of market self correction vs human emotion, market Always wins. I personally believe the massacre will be over in a couple or three weeks.

You may want to go see what $COIN's P/E is and get back to me.

What’s the forward P/E? Nobody has any idea because their profits depend on so many fickle variables: crypto prices, crypto trader enthusiasm, and competing exchanges not entering a race to the bottom that would put pressure on their margins.

No one knows anyone's forward P/E.

We can’t literally know anything about the future. But we have a much better idea of the possible range for AT&T’s 2023 earnings than Coinbase’s. (Not saying you should invest in AT&T either.)

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