One of my many investment rules is: beware of investing in anything where the name of the thing doesn’t make sense or it is basically wrong. It’s not a ban on investing, because one thing that can happen in a misnamed category is that it can go sky high because the bulk of investors simply don’t know what they are buying into, and that is a significant cause of bubbles. Lack of ability to understand leads to inability to price correctly, which in turn can, sometimes but not always, lead to FOMO (fear of missing out) where people pile in just because everyone else is.
This is, of course, subjective because ‘multimedia’, for example, which was a boom bubble in the '90s, was to me about the application of a single media type not about multimedia at all, but many will still look at the single embracing media and call it multimedia because the content, which is not the media after all, comes from various areas. It’s semantics, but in investing that can carry...