“Fools, as it has long been said, are indeed separated, soon or eventually, from their money. So, alas, are those who, responding to a general mood of optimism, are captured by a sense of their own financial acumen. Thus it has been for centuries; thus in the long future it will also be.”
― John Kenneth Galbraith, A Short History of Financial Euphoria
The signs of an epic bubble of historic proportions are everywhere. The stock market is a bubble, with valuations exceeding 2001. Margin debt is at all-time highs. The bond market is a bubble, with the Fed artificially suppressing rates and pumping trillions of QE into Wall Street. Housing is experiencing another bubble, with prices now far exceeding the 2005 peak. Bitcoin and the rest of the crypto-currencies are a bubble, being driven by the excess liquidity sloshing around the system. A joke crypto currency like Dogecoin soars into the stratosphere because money has no meaning anymore.
HVS 1Q21: Alta Fox Stock Idea – Pollard Banknote
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Steve Cohen-backed company buys Long Island AI startup
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Boutique firms with 25 or fewer employees and annual revenue below $10 million form the backbone of the PR industry.
For clients, boutiques can offer low costs and senior-level attention.
Insider identified 18 top boutique PR firms across categories, including finance, tech, and luxury.
While big firms and holding companies make headlines, smaller firms form the backbone of the public-relations business.
Boutique agencies can specialize in categories like travel, fashion, or technology or take a generalist approach with clients across segments.
For agency owners, staying small offers benefits like manageable overhead, personal involvement in client work, and ability to choose who to represent.