FYI: Is it at all possible that multiples are elevated for some segments of the stock market because people are investing based on metrics that have nothing to do with those prized by prior generations of investors? And, further, is it possible that these new investor predilections – for revenue growth and industry dominion and the capacity to disrupt a wide variety of industries and TAM (total addressable market) – is completely reasonable?
Regards,
Ted
http://thereformedbroker.com/2017/09/17/tech-stocks-as-career-obsolescence-insurance/
