Do you remember all the hype about the SpaceX share offering and how maybe 100,000 people in the UK struggled to buy shares on launch day?
I suspect they are regretting their enthusiasm now. This was the weekend chart of its share price:
The share price is now down by almost one-third since its launch, only a matter of weeks ago. And that downward trend looks to be unvarying.
Hype should not be the basis for investment. Meanwhile, large numbers of people in index-tracking funds have been exposed to this madness.
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What lunacy………………………………..
You say:
Meanwhile, large numbers of people in index-tracking funds have been exposed to this madness.
This is the worst bit of it. When the crash comes all these funds are going to be badly hit.
And yet the governemnt is still advising/requiring “ordinary people” to invest their ISAs in shares. Many will invest in trackers of some sort, which used to be a sensible choice.
Now it is a route to devaluation of your money.
What “investment” is there nowadays that isn’t a route to devaluation of your money? (Serious question by the way…)
That which is made withonh the UK by those in it.
There is too litle of that….
Well, that Hype really hit it’s “Peak of Inflated Expectations” very fast.
I doubt that the “Slope of Enlightenment” will be helpful if it happens at all.
I assume the “Plateau of Productivity” to be out of reach anyway.
I’m always getting angry when I think about how much good could have been done with that money.
Not that any society would depend on it but surely building more renewable energies or building affordable housing makes much more sense than that garbage.
I get that investors want a return of investment in the form of profits.
But if that investment supports mainly illth then it’s worth nothing at all in my eyes.
I mean, in a weird sounding way I’m an investor myself as I donate to FTF.
I also expect a return of investment for myself.
But I do get it when Richard’s lessons finally are accepted by politics at which point they finally are doing good for all of society.
Which in my eyes is the only real wealth.
Tomorrow SpaceX has to publish their first earnings report as a public company. Then I believe on the 8th, another 20% of shares become available for public sale. More shares for sale mean price will drop further.
Going to be an interesting week for the first Trillionaire for a Minute.
🙂
Many people in South Korea are suffering bankruptcy after a collapse of the local stock exchange, largely produced by the government’s promotion of borrowing to invest after reducing the controls on such behaviour. I read this on the same day that a senate inquiry into the Australian gambling industry heard from a reformed gambling addict about the inducements used by on-line gambling companies to persuade problem gamblers to continue losing their money.