A case for APT, page-18

I've been following the markets for over 40 years - probably long before you were born.

Value Investors like Buffett have been massively outperforming the market - long term - for close to 100 years

One of my closest mates (40 years) runs a family office with a ten figure share portfolio. I discuss shares with him on a regular basis.

I actually read annual reports instead of getting my 'facts' from HC.

Atlassian has never made a real profit in it's 16 year existence. It currently has a 27:1 price to sales ratio. It loses money every year and earns far less than 1% on it's cash balance. it 'grows' by acquiring loss making businesses with large customer bases. The more customers it has the more it loses. Those are the facts.

I seem to be the very few here one who can actually read T&Cs.