Can there be a better sign of a market top than when celebrities pile into it? Especially celebs whose main talent is to appeal to the public’s tastes, or lack thereof. While they might be acutely attuned to what’s happening in fashion, music, or the movies, they can be late in latching onto financial trends to which their sole connection is an insatiable desire to wring as much money as possible from the zeitgeist.
All of which is brought to mind by news that Kim Kardashian is launching a new private-equity venture. Truth be told, I don’t know what she or the rest of her reality-show family is famous for, other than for being famous. But Kim has leveraged her millions of followers on social media to become a huge entrepreneur, with interests ranging from women’s undergarments to faux meat. That indeed is a talent not to be discounted.