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> believers If it were only retail investors, your assumptions could make sense. However plenty of the share ownership is institutional investors. Most of the
by robocat 5mo ago
> believers
If it were only retail investors, your assumptions could make sense.
However plenty of the share ownership is institutional investors. Most of them care a bit more about fundamentals. (I'm ignoring passive investors just using indexes).
- levanten 5mo agoThey also care about networking and connections.
- rf15 5mo agoSecondary effects can also make this a good investment decision: if you have enough other delusional people to buy into it, you still gain from it, even if you believe it's bullshit.
- munksbeer 5mo agoA lot of institutional investors get caught out all the time when they make mistakes about the fundamentals.