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by grey-area
1958 days ago
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Future earnings over the next few decades is the traditional definition of value (returned as dividends, or price increase, doesn’t matter which). Periodically people lose sight of that and start talking about a new paradigm and new valuations (usually because using that metric means prices are insane), but it always returns to future earnings. All indicators are we are near the top of a spectacular bubble in assets from bitcoin to spacs to tech stock prices the red signs are flashing. Who knows how or when it ends though. |
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