Showing posts with label Greater Fool Theory. Show all posts
Showing posts with label Greater Fool Theory. Show all posts

February 7, 2021

Did You Sell Your GameStop?


Well, I couldn't resist. 

Around midday today, I peaked my head into the local GameStop.

There wasn't 1 single customer in the store. 

Not 1!

There were two workers.

When I asked if they had any GameStop stock. 

The manager said he had been offered some when he got promoted, but unfortunately turned it down. 

Well the stock was a manic bubble for a short time these last few weeks, and it could've made him a bundle. 

Based on what you see today, do you think you should own GameStop?  ;-)

(Credit Photo: Andy Blumenthal)


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May 11, 2020

Stock Market Pinocchio Style


Look folks, Pinocchio's nose is getting longer by the minute.

The market continues on a tear, even while the economy is heading in the other direction. 

I know people have been conditioned to buy on the dips, but I'm not sure that applies while we're in the middle (or maybe still just in the beginning) of a pandemic that has claimed 286,000 lives in just over 2 months (and that's with a global shutdown)!

Somehow, there is a notion that when things start to reopen that all the problems will just magically go away, including the $3 trillion we just added to our national debt, all the bankruptcies being declared, and all the job losses that are becoming permanent. 

If you believe this, perhaps you'd like to buy the Brooklyn Bridge.

The greater fool theory is alive and well.  ;-)

(Credit Graphic: Andy Blumenthal)
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October 25, 2019

Sizzle Is Not Steak

There was an interesting quote in the Wall Street Journal the other day.

It was about how the stock brokers all too often hawked hot stocks to their unsuspecting and foolish clients:
You sold the sizzle, not the steak!

Wow, isn't this all too often what happens with products and services in the marketplace?

People get you hyped up on all the excitement of something.

The latest and greatest widget or whatever. 

It's gonna revolutionize the world!

Even when the thing itself may not be all that it's cracked up to be.

Or in fact, it may be a complete dud!

But whatever sells goes, unfortunately, whether it's right or wrong

Sizzle, sizzle, sizzle. 

Doesn't that sizzle really make you want to buy the steak?

The Greater Fool Theory in full blossom. ;-)

(Credit Photo: Andy Blumenthal)
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October 5, 2017

Facebook Is Dead!

So folks, here is my absolutely contrarian prediction. 
Facebook Is Dead!
Who in their right mind would say something like that?

Facebook has 2 billions users! 

Well I am one of those users.

But even though I use it. 

I recognize that it is essentially useless and a waste of time. 

Yes, there are cute videos and messages and photos on there. 

But basically if you're honest, it's mostly a lot of garbage and time sink!

Twitter has a newsfeed purpose. 

Instagram has a photo sharing purpose. 

LinkedIn has a professional networking purpose. 

But Facebook is a glorious made-up fad!

I believe that people are getting tired of the:

- Meaningless, mind-numbing posts of what they had for breakfast today (and every other fart, literally). 

- Phony self-branding veneer as if everything is always perfect in their lives (look I'm on another vacation skydiving!)

- Virtual relationships rather than genuine friendships and real connections (I'm fiends with over 3,000 people!)

- The millions of empty slogans, political statements, and impersonal wishes to everyone for every occasion (have a really happy birthday!)

Frankly, I think that people are reaching the point of realization where they want more from the time they spend online.

- More depth of feelings

- More substance of thought

- More reality than superficiality. 

Yes, we all need some downtime too to mellow and just laugh a little, but I am fairly certain that the time people are putting into Facebook is not really meeting their true social networking needs. 

In the end, we will find out that Facebook is the epitome of the greatest fool theory--where everyone dumps their shit from the day, hoping that there is some greater fool who will superficially lopping it all up. ;-)

(Source Graphic: Andy Blumenthal)
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