A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.
To be clear, the sandpit is for regular commenters to pursue points that distract from regular discussion, including conspiracy-theoretic takes on the issues at hand. It’s not meant as a forum for visiting conspiracy theorists, or trolls posing as such.
51 thoughts on “Sandpit”
“Well, one got to believe fundamentals will matter eventually, otherwise such prognosis becomes entirely futile.”
Why not just accept the futility and abandon the Benjamin Graham/Warren Buffet dogma? What decade are you living in? You are thinking about a time, back in the day, when every so often a monetary crunch would come in and find everything the auditors did not notice. Here I am channelling Galbraith. They are talking about a reset now. But back in the day the living was good but the resets were brutal. And they would bring us back to a functional state.
I think I just heard that Elon Musk has become the richest man on the planet. This is ridiculous. Elon has barely made a profit in his life and such future streams of minor profits that we would expect from him cannot justify his alleged fortune in terms of net present value.
But its net present value considerations that go into Warren Buffet company valuations. So you should recognise that the stock market and capital allocation is another institution that has been ruined by corporatism.