Why do you know these kind of things and investors with skin in the game don't?
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Replies (2)
Because my mom stole all the Tylenol, appearantly.
Seriously, I just don't think fiat markets work like that. It's all social proof, spreadsheets and roadmaps. First principles thinking is not that relevant. If other people believe it, it doesn't matter if it's false.
And some of the big ones do know, or just don't care to know.
If you exit before the bubble pops, it doesn't matter if it was real. Fiat is rug or get rugged.
"When I see a bubble forming, I rush in to buy, adding fuel to the fire. That is not irrational." - George Soros 🫧
I hope you are right and its just reflexivity at work.