THE GHOST TRAIN
THE FINANCE GHOST: Have you herd?
An investor somewhere is converting rand to dollars at our worst exchange rate, all for the privilege of buying a stock like Nvidia at a record high. What could possibly go wrong?
We need to talk about herd mentality, particularly when a stock like Nvidia is up nearly 120% this year alone.
My favourite sentiment indicator is the ARK Innovation exchange traded fund ($ARKK) vs the Nasdaq 100 and S&P 500. Year to date, $ARKK and the Nasdaq 100 are both up 27%, with the S&P 500 up only 9.6%. Tech is frothy again, driven by excitement around artificial intelligence. ..
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