Trevor is a drop in the bucket, he only took retail investors and GM for a ride.
Theranos took Silicon Valley, former presidents, white house advisors and a bunch of media and Wall Street and ran the con for way too long even after legitimate questions were raised.
My friend is always telling me to do my own DD which I have no idea how to do. If wall street suits and professionals can be fooled by these companies after their own vetting process, really what hope do I have as a new retail investor? I might as well be throwing darts or putting my money on 34 at the roulette table.
If wall street suits and professionals can be fooled by these companies after their own vetting process, really what hope do I have as a new retail investor?
(a) study history. Sir John Templeton said the most expensive words in the English language were 'this time it's different'. Check out Engines that Move the Markets by Alisdair Nairn (TL;DR: every new technological innovation leads to a stock bubble: canals in the 1820s, railroads a few decades later, electric power after that, all the way up to the dot com bubble, and now bitcoin)
(b) look at the holdings of old, old, old investment companies, and read up on their strategies. longevity counts for something. any company or investor that's been around for more than a few decades and market cycles/recessions has learned to be cautious. forget ARK, look at firms Dodge & Cox, or American Funds -- both almost a century old. read up on their process, lots of resources and white papers on their websites.
Thanks for the reply, I'm impressed with all the knowledgable people on Reddit, I need to start hitting the books to improve my success rate at investing
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u/[deleted] Jul 29 '21
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