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Because our markets are no longer efficient at allocating capital. These companies are too large, they don't compete. They can buy a company for half a billion
by mlsu 10mo ago
Because our markets are no longer efficient at allocating capital. These companies are too large, they don't compete. They can buy a company for half a billion and write it off a few months later, at the whim of someone deranged by hype. How many businesses in competitive markets can afford to do that?
- pishpash 10mo agoAnd the reason is all of you dumping cash into the market no matter what because John Bogle said so half a century ago.
- Synthetic7346 10mo agoI disagree - yes, some companies are overvalued, but it isn't because of index investors.