“Why profits don’t matter”
Published in summer 2007
Heard the same in 1999, hearing the same now. People never learn.t.co/7Rb8svKqfQ
— OW (@OccupyWisdom) June 7, 2018
1999 – Why profits don’t matter for IPOs
The Wall Street Journal has a heads-up article in Monday’s paper that says the percentage of companies going public this year that aren’t yet profitable is higher than at any time since the dot-com bubble. (The article, here, is available for free.) The paper notes that there are differences from seven years ago, primarily the number (there are fewer) and diversity (more industries are represented) of IPOs. Still, the large presence of unprofitable companies asking investors to take a chance on them is rightly seen as a warning sign.
REVERSION TO THE MEAN IS A FORCE OF NATURE
Leveraged loans margins on track to hit new pre-crisis lows: premium paid on top-rated leveraged loans above the London interbank offered rate has pushed to below 190 basis points, the lowest levels since 2007 t.co/04Ul82kdDY pic.twitter.com/AM1CV75GAA
— Trevor Noren (@trevornoren) June 6, 2018
Church of #Bitcoin,
Where does a price target for $BTC @ $1M come from?
BTC @ 1M means a $16 Trillion market cap.
💵 16x the size of @Apple
💵 if you spent $16M per day since Jesus was born you wouldn’t be at 16 Trillion
💵 BTC would be the ~size of US economyDELUSIONAL pic.twitter.com/yfG5cO0d2g
— OW (@OccupyWisdom) June 7, 2018