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 :) .