Jun. 30 at 1:26 PM
$BABA $BIDU $KWEB
Carol, you’re halfway there.
US liquidity is in a massive bubble. Retail going hyper-euphoric, thoughtless 401k flows buying companies 100x+ sales, etc. flows are massively overweight buying which inflated asset prices.
That is the mechanic that creates a market disconnect like Alibaba, where the lack of buying flows leads to chronic misvaluation. That’s not something you run away from - that’s a dislocation you should be investing in.
