Amazon has a PE of 1000, Google is at 32 (and not as big a moat as you might think), Facebook is at 107 and Netflix at 333 (and no discernible moat). This isn’t going to end well. It never does.
Welcome to the “new normal”. I concluded years ago that valuations are practically immaterial in the world of perpetual “stimulus” (a word meaning the destruction of the price discovery mechanism).
“Cap Creation”? They created it? Are you implying it was ALL buybacks (instead of just mostly)? Oh, maybe it was the USG “creating” capitalization (h/t Snowden!). After all, Sam has liquidity, so to speak.
Not, mind you, poor planning / terrible land management / inexistent environmental mitigation / unguided ‘development’ / poverty-driven settlement / myopic greed / consequence of inequality / comprehensive lack of understanding of the natural sciences / utter paucity of common-sense zoning. Nah. It was the weather.
The unfolding climate chaos is going to KYA, while we’re doing our respective kabukis.
Amazon has a PE of 1000, Google is at 32 (and not as big a moat as you might think), Facebook is at 107 and Netflix at 333 (and no discernible moat). This isn’t going to end well. It never does.
Welcome to the “new normal”. I concluded years ago that valuations are practically immaterial in the world of perpetual “stimulus” (a word meaning the destruction of the price discovery mechanism).
Google is sui generis in comparison to others.
“Cap Creation”? They created it? Are you implying it was ALL buybacks (instead of just mostly)? Oh, maybe it was the USG “creating” capitalization (h/t Snowden!). After all, Sam has liquidity, so to speak.
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Anywho, check out this NYT offering: http://www.nytimes.com/2015/11/24/world/europe/extreme-weather-disasters-united-nations-paris.html … “Extreme Weather Tied to Over 600,000 Deaths Over 2 Decades”
Not, mind you, poor planning / terrible land management / inexistent environmental mitigation / unguided ‘development’ / poverty-driven settlement / myopic greed / consequence of inequality / comprehensive lack of understanding of the natural sciences / utter paucity of common-sense zoning. Nah. It was the weather.
The unfolding climate chaos is going to KYA, while we’re doing our respective kabukis.