Wolfstreet report – “Just shut up and buy”
Het Wolfstreet report van deze week gaat over de gepropageerde koopwoede, met als onderliggende gedachte dat zolang iedereen koopt, de prijzen niet zullen dalen.
“Just Shut Up and Buy”: But Hype-Stocks & Cryptos Crashed
Publicatie 23 mei
Volledige transcriptie van dit Wolfstreet report
By Wolf Richter. This is the transcript of my podcast of last Sunday, May 23, THE WOLF STREET REPORT.
The market philosophy and the overpowering strategy on how to approach the markets since last summer – and I mean the stock market, the housing market, the crypto market, the junk-bond market, and a bunch of others – was summarized eloquently for all eternity: “Just shut up and buy,” the guy said.
For a long time, I mean for months, this strategy worked, everything was going completely crazy, and people kept changing metrics to explain that this was the new normal, that this is how it would be from now on. It became a “raging mania” – again one of those highly accurate technical terms – and it practically didn’t matter what you bought, and at what ludicrous insane price you bought, because as long as you bought, you made money.
But then, the logic of “just shut up and buy” broke somewhere near February 12. Many of the most hyped segments of the whole rigamarole started cratering. We’re talking IPO stocks such as Airbnb, which is down 39% from the peak, Zoom, which is down 46% from the peak, Palantir which is down 53%, Snowflake which is down 45%, and many others…
EV stocks started cratering too, including Tesla which is down 35% from the peak, and SPACs – the special purchase acquisition companies – and especially the EV SPACs that are down 50% and 60% and some over 70%, such as Quantumscape, and a few are down over 80%, such as super-hype-nova Nikola, which is down 87%…
Verder lezen van deze transscriptie kan onder de link op Wolfstreet.
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