A one year, educational look back through the lens of Super Bowl commercials. The economy was awash in liquidity. Behavior had changed. Would trends continue? Would behavior revert? The Fed’s first rate hike would occur roughly one month later. H/T Steve Beiser.

Last year’s Super Bowl commercials – if you invested $10k when they aired you would have….
• FTX – $0
• Carvana – $920
• Vroom – $1,750
• Coinbase – $3,620
• AMC – $5,200
• Polestar – $5,400
• Expedia – $5.700
• Amazon – $7,600
• Draftkings – $7,450
• Rocket Mortgage -$7,840
• Salesforce.com – $8,190
• GM – $8,460
• Meta – $8,700
• Planet Fitness – $9,038
• Booking.com – $9,300
• The Winners: Pepsi $10,040, TMobile $11,400, Hologic $12,000