I loved the movie Fletch. When Max was young he loved it too. Little kids know silly.
One of my fave scenes is Chevy posing as a mechanic and riffing ‘It’s all ball bearings‘:
Fetch/Chevy got away with this because he said it with such confidence.
I see this behavior all day from people talking about stocks and markets.
They wax poetic about the latest stock and catalyst that will make their stock a 10-bagger. In markets like today’s it can actually work, but over the years I have seen so many people get burned.
If I can’t understand the technology in the moment with a practical use case…consider me out.
That has not stopped me from catching many incredible trends in the public and private markets with my relatively boring 8 to 80 and ‘fashology’ companies/stocks (you can search my blog archive for past posts).
One sector that has always made me think of Fletch is ‘hydrogen’. Two stocks that have been etched in my brain over that time and perennial dogs (losers) have been Plug Power and Fuel Cell ($PLUG and $FCEL).
Here are the charts over the last 12 months:
Here they are over the last 20 years:
The last 20 years, investors were ‘Fletched’.
Maybe this time it is for real?
I am asking a lot of questions these days about hydrogen, fuel cells and batteries.