The opening of the Corona Open J-Bay, a few hours away, is plunged into heartbreaking doubt as the vice-president of the World Surf League of Tours, responsible for the competition, is still missing: “Always here Rio I will never leave Brazil!”
Get rich or die trying.
Years ago, or maybe it was only months As time flies so fast, Laird Hamilton went public with his eponymous Superfood and the stock price soared, making him a multi-millionaire overnight. The herbal coffee creamer was intended to fill a morning ritual of health and vitality. Good fats, I imagine, and THC or rather MCT or whatever that beautiful oil from coconuts is called.
A captivated public, eager to drink from Hamilton’s fountain of youth, snapped up the product, the company went public, and prices floated to nearly $60 a share.
But something happened on the way to the ice bath, and over the past few months or weeks (who really knows nothing more), the value of Laird Superfood has plummeted near junk food level.
Market watchers wonder if now is the time for another GameStonk. Surely you remember when beloved video game retailer GameStop was on the verge of going under and loving fans, disruptors and radical investors went all out, driving up the stock price and shaking the market. .
While at the time, the pillars of the investment game found the whole episode crazy Forbesas august as anything, said:
The GameStop (GME) blowout has been described as the product of wildly irrational investor behavior – a “frenzy”, a “speculative orgy” (Charlie Munger’s phrase), a “game played by losers who have no idea what they are doing”. re doing” – a classic case of crowd madness.
This view is incorrect. Observers are misled by the fact that the market is obviously not “rational” in the financial theory sense of the term. Stock prices no longer reflect the value of the underlying asset. GameStop’s mediocre, loss-making business is certainly not 4000% more valuable than it was this time last year.
But that doesn’t mean the decisions of GME traders are irrational.
The GME event is actually the result of a hyper-rational process. It is based on very precise calculations of specific outcomes which possess a much higher degree of certainty than is the case for normal investment decisions. There is no “crowd madness” here. This is a premeditated and predatory withdrawal of a cornered and defenseless counterpart.
So should we GameStonk Laird or what?
I’m in if you are.