“Fundamentals” focuses on the first two. Unfortunately an expanding money supply creates capital inflows that will never be matched by returns. So everybody has to focus on speculative returns, which seem to be more about marketing.
I wonder if someday there’ll be a Benjamin Graham equivalent for speculative hype investing. Maybe a Bogle for the vast array of tech synthetic derivatives.
1. Dividends. 2. Liquidation. 3. Speculation.
“Fundamentals” focuses on the first two. Unfortunately an expanding money supply creates capital inflows that will never be matched by returns. So everybody has to focus on speculative returns, which seem to be more about marketing.
I wonder if someday there’ll be a Benjamin Graham equivalent for speculative hype investing. Maybe a Bogle for the vast array of tech synthetic derivatives.