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I'm not implying there is no value. I'm drawing a distinction with high-PE industries, like tech, where the market value is highly biased to future (unrealized)
by bumby 2y ago
I'm not implying there is no value. I'm drawing a distinction with high-PE industries, like tech, where the market value is highly biased to future (unrealized) potential. Previous generations, where hardware manufacturing was the dominant industry, had "value" more tightly coupled to realized value.
- randomdata 2y agoMeaning that the 'fake' student loan value is not limiting itself to housing, but also propping up the stock market? I think that's fair.
- bumby 2y agoThat’s not my claim, but it would seemingly follow with your hypothesis (along with a range of other asset classes). The tough part is actually showing good data of the causal relationship.