Mark Cuban is calling today’s market a pyramid scheme and the VC market a chain letter.
He has every right to. The market has always been a pyramid scheme. He is doing his best to warn people that this monster bull run won’t end well. That’s cool. He’s right.
But, you have to admit, this is one hell of a party.
Americans LOVE to speculate. Read my pal Michael Bigger’s post and don’t forget it!
I am too happy to be cynical right now. I will save the cynicism for when it’s trendy again. Right now, dumb is winning.
This bull run is very real and very liquidity driven and the gains in my portfolio are shockingly real. They would be more real if the cynic in me had just died a horrible death in 2010.
If your cousin is pitching you startups, heed Mark’s advice. If your cousin is telling you the market is a scam, thank him and buy some more $aapl :) .
Yes, they do!
I do not understand how Mark has not been prosecuted or fined for his “investment advice”. Also get him to upgrade to Disqus.
he is being soundbited.
“I am too happy to be cynical right now. I will save the cynicism for when it’s trendy again. Right now, dumb is winning. ”
2008 made me a cynical and I have been like that since then :).
Yeah, I don’t get people that tell people to run away from this market. I guess if you were going on a six month cruise and had no way to check the market or the news maybe you’d want to get out, but why miss the next 5%, 10%, 20% up when you can get out anytime in the future? Is calling a top that important? I saw a guy saying you should short Netflix the other day bc it has accounting issues. He was asked if he was saying it had topped. He said, No, that it could still go up for the next 6 months until the accounting issues became clear. So, why would you short it now?