8 ms·
On one hand I think this is disproportionate amount of value, but on other I think investors with lot of money are not really that stupid and see some sort of v
by iamshs 13y ago
On one hand I think this is disproportionate amount of value, but on other I think investors with lot of money are not really that stupid and see some sort of value in this.
- confluence 13y agoAll that you can truthfully state to be true about people with a lot of money is that they have a lot of money. Everything else is probably narrative fallacy.
- Rimpinths 13y agoEconomist Joseph Lawrence of Princeton University in 1929: “The consensus judgment of the millions whose valuations function on that admirable market, the Stock Exchange, is that stocks are not at present over-valued. Where is that group of men with the all-embracing wisdom which will entitle them to veto the judgment of this intelligent multitude?” Alan Greenspan in 1999: "To anticipate a bubble about to burst requires the forecast of a plunge in the prices of assets previously set by the judgments of millions of investors, many of whom are highly knowledgeable about the prospects for the specific investments that make up our broad price indices of stocks and other assets."