Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The investment community has been assigning premium valuations to everything affiliated with Elon Musk. This is not a unique phenomenon. Historically, there have been stock jockeys in market cycles.
The stock jockey makes investors believe that every horse (firm) ridden is a winner, creating aggressive valuations. Eventually, the stock jockey rides a nag to a humiliating loss that shatters the cult of personality along with the “sure thing” valuation.
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