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The media incessantly talking about how this is a bubble but telling people that Yelp and Twitter are great investments. If the idiotic media continues to push the bubble story, I'd consider buying more of the large caps. As for Gilead, another nice move off the $100 level the other day.
Scott, your own research and DD is good from what I've seen. Ignore the media, it's a time waster.
Thanks. It's not that the media usually bothers me and it's not that there aren't biotech companies that aren't overvalued based on the hopes of potential pipeline product. It's just that it's a little irritating that companies trying to solve considerable health issues are repeatedly lumped together as a bubble whereas all manner of ridiculous tech/social media nonsense is fawned over and no one questions that it could be a bubble until all of the sudden the major names (Twitter, Yelp, Linkedin) are down 30% all of the sudden and then they go, "Gee, was that a bubble?".
I do think that there is an aspect of financial media that does "sell" companies that are easily grasped by even the most uneducated retail investor. Jim Rogers called CNBC a "PR firm for stocks" - I do think it is sort of a marketing agency for stocks in a way and it becomes what's the easiest and most marketable sector that they think is "sexy" and will get retail interested. This often leads to eventual bagholders, as rather than getting people into quality companies with consistent performance, it's hyping whatever name or names have momentum. Financial media does little in the way of financial education, it's - and I think it's gotten worse in recent years in terms of hype over substance. Perhaps if CNBC went further in creating longer-term investors, its ratings would be better.
Yeah, there's some focus at times on the dull and boring, but the majority of time is spent fawning over the Ubers of the world, at least until reality sets in.
"I do think it is sort of a marketing agency for stocks in a way"
Exactly why I never even look at that sort of financial pimping. Just watching and reading here at MFO acts as a great filter for that BS, as you folks have a great ability to take that crap apart, shake it well, and see if anything worth keeping falls out.
And you, Scott, are one of the best, along with folks like msf, Charles, Ted, Hank, Catch 22, and another dozen or so who make this site what it is. I'll even include some contributions from MJG.
Comments
I do think that there is an aspect of financial media that does "sell" companies that are easily grasped by even the most uneducated retail investor. Jim Rogers called CNBC a "PR firm for stocks" - I do think it is sort of a marketing agency for stocks in a way and it becomes what's the easiest and most marketable sector that they think is "sexy" and will get retail interested. This often leads to eventual bagholders, as rather than getting people into quality companies with consistent performance, it's hyping whatever name or names have momentum. Financial media does little in the way of financial education, it's - and I think it's gotten worse in recent years in terms of hype over substance. Perhaps if CNBC went further in creating longer-term investors, its ratings would be better.
Yeah, there's some focus at times on the dull and boring, but the majority of time is spent fawning over the Ubers of the world, at least until reality sets in.
Exactly why I never even look at that sort of financial pimping. Just watching and reading here at MFO acts as a great filter for that BS, as you folks have a great ability to take that crap apart, shake it well, and see if anything worth keeping falls out.
And you, Scott, are one of the best, along with folks like msf, Charles, Ted, Hank, Catch 22, and another dozen or so who make this site what it is. I'll even include some contributions from MJG.
Regards- OJ