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That’s a pretty stupid quote. I mean, yes, context matters, and there are cases where things are overvalued (obviously), but the reason prices rise is because
by throwawayhhakdl 7y ago
That’s a pretty stupid quote.
I mean, yes, context matters, and there are cases where things are overvalued (obviously), but the reason prices rise is because revenue (profit) is expected to grow. All of those “basic” assumptions seem to assume that there is 0 growth. The arbitrary ten year payback period doesn’t make sense either.
It’s like saying a baby can’t possibly get a job, and ignoring the fact that some babies grow up into adults. I’m sure a more clever analogy exists but that’s the best I have on hand.