In a day or three, depending on how the euro is doing as people begin to realise that false claims of progress will always be undone by inefficiencies and corruption, i’ll be talking about the most dangerous words in the speculator’s environment: “it’s different this time”.
recall the crazy valuations in the days of the net bubble?
at the time, it was “different this time.”
recall the “artificial blood” stocks of 98-99?
at the time it was “different this time.”
recall mortgage deals of 2005-2008 as the real estate industry sold off its assets??
at the time it was “different this time.”
i recently picked up a reasonable enough fee for explaining to a guy managing a fair chunk of other people’s money what “the big deal” is with stem cell stocks, from gern to isco.obb.
and is different about pricing them for speculation than is true about f, or ge, or mot…and what was the same, because the ojne thing always true for the prudent speculator is that it is never different this time.
Posted under business
This post was written by admin on May 19, 2010
