Everyone Is A Stock-Picking Genius During A Bubble. Where Is The SEC?
During an equity market bubble 13-year old children are as smart or smarter than experienced stock pickers. Who needs to assess valuation, industry trends, the competitive landscape and management teams when stocks only go up? Heck, reddit chat room WallStreetBets (“WSB”), tells investors everything they need to know (said with sarcasm). Plus, Elon Musk Tweeted that he likes GameStop (tkr: GME) on January 26th. Stock-picking genius that Mr. Musk is, no wonder GME is up more than 125% as of Wednesday afternoon January 27th. If GME is not enough of an adrenaline shot for you, perhaps AMC (tkr: AMC) is more to your liking. AMC is another WSB favorite, and is up more than 180% today. Social media has become the wild west insofar as the capital markets are concerned. I only have 1 question: Where is the SEC?
