The Spirit of ’68: Risk Appetite and Capital Markets in Historical Context
Ross Perot’s Electronic Data Systems (EDS) debuted on public markets in 1968 at a staggering 118x earnings multiple, defying conventional valuation metrics. The data processing firm’s IPO exemplified the era’s speculative fervor, despite Fortune Magazine’s warnings about customer concentration risks.
"The public these days is wildly receptive to new stock issues," observed contemporary analysts, capturing the zeitgeist of retail investors chasing high-growth ventures. This historical parallel resonates with modern cryptocurrency markets, where traders similarly embrace volatility for disruptive potential.