Quote:
Originally Posted by nota
bet long AGAINST the herd
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A philosopher once suggested this. I forget who. One of the Empiricists. Probably Hume or Locke.
"Get on the bandwagon" makes for great marketing, but poor logic.
Then again, most popular stocks are overvalued, as compared to objective measures such as total assets or NPV of expected earnings. They are overvalued because the stock market is a casino where the "bandwagon" phenomenon is a main driver of stock prices.
That said, yes I do have substantial equity holdings. Go figure.