Oversimplifying investments could be detrimentalJuly 26, 2022 2023-09-25 6:05
Oversimplifying investments could be detrimental
Letter # 92 | Buoyant Capital | Oversimplifying investments could be detrimental
“Steve Jobs taught me that when you deliver the highest quality you can imagine, you will have a great business forever” said Ron Johnson of Enjoy Technologies. His company went public through SPAC in October 2021 at a valuation of USD1.4 billion. Last week, they hastily filed for Chapter 11 bankruptcy as the company was left with no money to pay salaries. In our ET article today, we look at the spectacular rise of SPAC (USD162 billion issuance in 2021) and its dramatic fall (less than 10% cos trading above IPO levels now). More importantly, we draw interesting lessons as to how the oversimplified ‘bite-sized advice’ that sounds good, is in fact, detrimental to long-term investing. Read here: Oversimplifying investments could be detrimental
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