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Investing as Entertainment | Shreyas Hariharan
Investor Jim Grant once said: To suppose that the value of a common stock is determined purely by a corporation’s earnings discounted by the relevant interest rates and adjusted for the marginal tax rate is to forget that people have burned witches, gone to war on a whim, risen to the defense of Joseph Stalin and believed Orson Welles when he told
... See moreMorgan Housel • Same as Ever: A Guide to What Never Changes
Today, everything is investable. We can invest in sports cards with Alt. We can invest in fine art with Masterworks. We can invest in people with Rally and we can invest in collectibles with a different startup called Rally. Everything is being financialized.
Rex Woodbury • The Seven Deadly Sins of Consumer Technology
Robinhood right now is like a hot Blackjack table. Everyone is winning, and the people who are losing are losing so spectacularly that it heightens the experience for everyone. When the table cools down -- markets don’t normally stay on runs like the one they’re on right now -- and things become a lot less volatile, a lot of the thrill-seekers will... See more
Benjamin Rollert • Not Boring Memo: Composer
But investing is not a hard science. It’s a massive group of people making imperfect decisions with limited information about things that will have a massive impact on their wellbeing, which can make even smart people nervous, greedy and paranoid.