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The bull market in belief

Published on
January 2, 2023
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Benjamin Graham, if he were alive today, or even an investor from 2019, might struggle to comprehend the bull market we witnessed in SPACs, crypto, stonks and NFTs. A year ago, investors were buying monkey jpegs for millions of dollars or profitless tech companies promising jam tomorrow. This extraordinary period was a bull market in the willingness to believe. But exposing the truth has drawn a tear.
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