By Vitaliy Katsenelson CFA



The stock market bubble that I’ve been writing about for the last few years is finally bursting. For the first time in almost a decade, it feels like common sense has stopped being a painful headwind and is turning into a tailwind. 

Paying any price for the stocks of companies that were growing revenues but had no hint of profitability and were diluting shareholders by giving away 10% of shares in stock-based compensation every year is an approach that has stopped working. 

Investors are discovering that the price you pay matters, eventually. Many of these companies are down 70-80% from their highs and are still expensive. 

Rising interest rates are making value investing great again! 


Thank You




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