Sep

5

 The one particular breed of "value" investor I hate most are those who develop vendettas against particular "overvalued" stocks of companies that are changing the world. What bugs me is their attempt at moralizing. It is a crusade to prevent investors from being ripped of by such "charlatans" as Bezos, or the Priceline founder, etc who are among the greatest geniuses of retail and business of all time, perhaps the greatest in Bezos' case. Or it is the "Tesla bears.' Fine. Apologies to those here who hate the company. Yet. It's an awesome product.

If in the process of a leap in technology, better things, a few speculators get burned, so be it. Why not let speculators fund advanced research on business concepts, technologies, etc. Overvaluation is a GOOD thing but for naked fraud, and a tremendous number of those phonies are offset by one Bezos from a "good for society" prospective.

The next great "fraud" of an overvalued company with an amazing product, great customer satisfaction, etc, that the usual bears hate–having studied the "accounting metrics" till their poindexter heads are nearly exploding–I resolve to go long. Reasonable odds they will be crushed given I can only lose 100% yet might gain 20,000%.


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