a-yup. “valuation”. “fundamentals”.
Nice words that inspire confidence but they’re BASED upon group-thinking or at least what’s thought of as group-thinking and may be instead a pushed narrative. Regardless, when ANOTHER group comes in and changes the valuation, does it change the value of GameStop stock?
No. It doesn’t have value. Not.. the way we normally think of as value in everyday life. Rather, it’s an answer to “what do we think this stock will generate for us in the future”? which is resting on… nothing. The valuations REST upon prediction and while they use past performance as part of the guidance (i loved making simple “rolling windows” in Excel way back), nevertheless it’s ultimately at that point based upon … belief.
A fundamental is what is fundamentally BELIEVED, not metal/brick truths.
A new religion comes along, such as the millionaire redditors going after the billionaire hedge fund managers and you get a surprise.
It’s not that it isn’t rigorous mathematically but as you strip away each of what makes up the fundamentals of a company, a good portion of it is based upon speculation: the growth.
P/E ratio for example. It’s projections. Yet it’s considered one of the first things you look at when looking for the value of a company, as many assume that all of the other things have been concentrated into that magic ratio.
I used it when I invested and yes, it works great — for certain sectors that are predictable.
I’m not taking away her tenacity. My mom has similar tenacity even now. Also three kids.
But he’s just about exactly my age, just a few months older. Probably a school grade older.
Ok, I looked a little.
He started college in Canada in 1989 then transferred to UPenn after two years with a full scholarship.
From UPenn to Stanford.
So, it was Canada.
See, I reacted at the debt because having a high debt ceiling is a privilege.
You don’t get $100,000 debt unless they believe you will be able to afford to pay back the $100,000.
The reasons they believe you’ll be able to afford to pay back the $100,000 debt is earnings potential and there’s a lot that goes into that.
when I was in 4th grade, kids started a rumor that I was Canadian but I was born and raised in New Jersey USA.
I actually didn’t mind that rumor and always secretly believed that I was probably originally Canadian in some other realm.
He’s less privileged than I’d thought but who knows what you or I would have done in a similar situation.
I’m the same age as him with a mother with similar tenacity but we were in New Jersey and they were in Canada.
Our US house counted as an asset in 1990 because of Reagan.
Her Canadian house undoubtedly did NOT count as an asset in Canada in 1989 but as a liability as it should be.
I could not afford to finish college and left after 1.5 years. No theoretical physics for me.
He could afford to do two years at the Canadian college and get a full scholarship to UPenn.
I’m not taking away what he’s done NOW. But the rags to riches was just out of my reach, despite seemingly similar rags. But yeah he’s done fine and I won’t take away what he’s accomplished, just that that his bottom wasn’t quite as bottom.
Ok, I wasn’t going to dig. But I was wrong in the detail: am I wrong in the direction? His mother is amazing so I shall go there:
“Maye Musk (Haldeman) was born to Joshua Norman Haldeman and Winnifred (Wyn) Josephine Fletcher. Maye was born in 1948, along with twin sister Kaye (mother of Lyndon & Peter Rive- Elon’s cousins who started SolarCity). She was born in the small town of Regina, Saskatchewan, Canada, in a 3 story, 20 room house.”
“financially speaking, her dad, Joshua Haldeman, probably came in a few brief years via his chiropractic practice”
“From the time Maye was 3 months old, she would be taken on trips (in an airplane, no less) around the country with her father, to locations like Denver, CO or Davenport, IA. She had an older brother Scott (born sometime close to 1942) and a younger brother Angkor Lee (born 1955).
Sometime in 1950 (but before November 21st), her family moved to Pretoria, South Africa, where she would continue to nurture a spirit for exploration through her dad’s intercontinental aerial forays.”
She studied nutrition in college, and began what would become a successful modeling career, starting out through a friend of her mother’s during her teen years. She won a few beauty competitions and was a finalist for Miss South Africa while still in school, and continued modeling for the next 5 decades”