New World A-Comin'

[Monksdream]

I'm full of giggles this morning, though I shouldn't. The horrors in Ukraine. Tom Keene, a Bloomberg radio host, was in conversation with an analyst who characterized these Cathie Wood type companies as "no profit tech companies."
2020 was a year that will likely be a year Ark Fund CEO Cathie Wood will never see again. But I've been wrong before.

Wall Street and venture capitalists poured billions into these companies. Institutional asset managers and retail participants ran up the valuations to absurd levels. Although the stock is a discounting mechanism it is only capable of pricing in a decade of future results in a single day for so long. Eventually someone comes to his or her senses, and says, this is ridiculous -- and sells.