|The spectacular rise and fall of $DRYS|
And for no other reason than irrational exuberance.
If only we had learned from our friend Isaac Newton, who lost millions in the South Sea Company bubble and collapse.
- As long as people are irrational, irrationality (i.e., inefficiency) will exist in the stock market.
- Inefficiency breeds opportunity (i.e., the price of a security does not always reflect its intrinsic value).
I'm hoping to have more new posts soon. I've been busy putting where money where my mouth is, experimenting with some new strategies with real money and not just words on a blog.