Senior Data Engineer at St. Jude | Finance MSBA Student | Many Interests, Expert in None
𝘙𝘦𝘴 𝘵𝘢𝘯𝘵𝘶𝘮 𝘷𝘢𝘭𝘦𝘵 𝘲𝘶𝘢𝘯𝘵𝘶𝘮 𝘷𝘦𝘯𝘥𝘪 𝘱𝘰𝘵𝘦𝘴𝘵 - A thing is worth only what someone else will pay for it. Was rereading some highlighted sections in 𝘈 𝘙𝘢𝘯𝘥𝘰𝘮 𝘞𝘢𝘭𝘬 𝘋𝘰𝘸𝘯 𝘞𝘢𝘭𝘭 𝘚𝘵𝘳𝘦𝘦𝘵 by Burton Malkiel and happen to reread 'The Castle-In-The-Air-Theory' which discusses the idea of investors devoting energy not to analyzing and estimating the intrinsic value of investments, but rather how the crowd of investors will likely behave to the future, and based on large periods of optimism, how they tend to build their hopes into 'castles in the air'. There's obviously a lot more at play in today's market that even the brightest can't fully explain but thought this was an interesting piece to add onto the market's complexity. #finance #randomwalk #cfa #investing
