“Regrettably l feel they will end in widespread capital destruction because the rules of investing rarely change, only the participants”
I think so too. The market is due for a major ‘cleansing’ .....you could argue its begun already with the market starting to shake out some of the more ridiculous ‘investing’ that’s been going on.
The most laughable thing I’ve seen was on CNBC at the height of the ‘meme’ stocks frenzy.This punk ‘finfluencer’ was talking earnestly about ‘momentum’ like it was some new financial concept that was going to replace all the traditional measures.
The interviewer says “but this company has flat earnings for 3 years and now it has a P/E of 800 while nothing about its operations has seemingly changed”
His response .... “that’s old school thinking - this stock has momentum and that’s all that matters”
Well momentum can only take you so far - any fool must know that - eventually there has to be something of substance to support a stock price - like real cashflow and real profits.
I think there’s still a lot of this BS ‘momentum’ mentality in the markets ......and this is what sets it up for a big shake out at some point.
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Last
$9.95 |
Change
-0.070(0.70%) |
Mkt cap ! $1.779B |
Open | High | Low | Value | Volume |
$10.04 | $10.13 | $9.92 | $3.725M | 372.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2494 | $9.95 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$10.00 | 45242 | 13 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 758 | 9.890 |
1 | 1400 | 9.720 |
1 | 750 | 9.700 |
1 | 105 | 9.600 |
2 | 309 | 9.550 |
Price($) | Vol. | No. |
---|---|---|
10.000 | 500 | 1 |
10.080 | 481 | 1 |
10.100 | 4700 | 1 |
10.150 | 4677 | 3 |
10.180 | 3500 | 1 |
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