By Ali Lyon The first quarter of 2021 will go down as the high water mark in pandemic mania. Historically low rates, trillions of dollars in quantitative easing and, practically speaking, billions of people being locked up on and off for the best part of a year led to a frenzy in global finance. Peloton – the fitness equipment maker that had joined the Nasdaq in valuation of $8.1bn in 2019 (£6.4bn at the time) – rode a tidal wave of demand for at home workouts that helped it to an astronomical market cap of $46bn (then £34bn). Cazoo – the online second-hand car dealer that proclaimed its secto…