General Discussion, page-706

It's astonishing how much it keeps dropping but not complaining. Every 10-20% I average down. GXY at $2.36, I was buying then too (and lower) and selling in the $10-$14 range. Arcadium is GXY+ORE+Livent and it's around $7! I mean even a bit above this price it seems like a screaming buy to me. Not advice.

Arcadium is now priced in such a way that makes me think people have become unsure that lithium will be a crucial component of batteries in the not too distant future. Some serious terror going on. I mean it's always hard to buy into the fear but stepping back, the only real risk is sodium batteries and they are considerably heavier and have less energy density so ok for storage but I will put many $ on them not being the go to for EVs or most other applications.

Otherwise, my fear came from thinking it is a bad time to buy assets (many stock markets are at all time highs so it doesn't look like too many people shared this fear), hence cash was good for the moment, to hunker down and wait for recession. But when taking massive inequality into account, the calculus changes or it offers a different point of view. There is now the very rich and the rest of us and if rates drop there will be a motivation to send already overpriced assets even higher as money comes out of interest bearing accounts....and what about those assets that could be considered to be priced too low at the moment, especially as lending for cars becomes more accessible again. We live in a debt addicted world and we either crash completely or this debt issuance continues again sooner or later.

One of my favourite economists, from 14 mins he talks about assets in general.