Claire Corlett

Fish Food, Fish Tanks, and More
Sådan identificerer du en boble | Ken Fisher | Fisher Investments Norden [2019]

Sådan identificerer du en boble | Ken Fisher | Fisher Investments Norden [2019]


so sometimes I’m asked how do you spot a bubble the answer is it’s not easy bubbles have a series of qualities one most of the people that you talk to about it will argue that this form of investment is can’t lose its forever it’s the new thing and it’s the right thing to do those kinds of features fall into ones where if you argue no it isn’t almost everyone argues against you almost everyone treats you as if you’re just an idiot in the internet there was the famous saying it’s the internet stupid but if you tried to say that internet stocks didn’t have a great future in 1997 98 99 in the longer term you would be criticized the feature of a bubble is it’s almost never called a bubble in its own time there will be people that will say oh of course well in the next couple of months the price will bounce around and right now I’m a bear but they always argue that in the intermediate to longer term it’s kind of like the right thing to do it can’t lose you can’t have a bear market in it and it’s it’s it’s it’s maybe the only thing you need to do whether it goes back to the tulip mania or whether it’s housing or whether it’s oil in 1980 these features become ones where try to tell somebody they’re wrong and they shouldn’t be doing it and watch them come down on you with their friends all of whom you know don’t know anything about investing that’s the best way to see that it’s a bubble with bubbles people who don’t know anything about anything come out of the woodwork to tell you all the reasons why you gotta do this you gotta and that gotta gotta gotta feature is actually very dangerous because going back to another very famous Warren Buffett line you should be fearful when others are greedy and greedy when others are fearful and the fact is that when they all are wanting to tell you you got to do this no you’re an idiot for not doing it at that point in time you need to say nope nope nope nope nope you don’t know when a bubble will burst because a bubble can go on longer than you can stay sane but those are the signs of a bubble when people tell you you gotta do it remember you don’t you

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