Looking for proof that a speculative frenzy is alive and well?
The market value of Fossil , with annual revenue of $2.5 billion, is nearing the same market cap as Tiffany — annual revenue $3.5 billion.
LuluLemon , with revenue of around $847 million, is valued almost equally to Nordstrom , with annual revenue topping $10.8 billion.
Then there is Monster Beverage , with revenue of $1.7 billion and a market value 25 percent higher than Molson Coors Brewing , whose annual revenue is around $3.5 billion.
Moral of this story: Valuation doesn’t matter until it does. Zero interest rates will do that!
Questions? Comments? Write to HerbOnTheStreet@cnbc.com