Aug. 18 at 6:44 PM
$CRM Long yields hit their highest level since 2007 today. Textbook says the longest-duration assets get hit hardest, and software is about the longest-duration thing in equities.
Software went up anyway. Semis went down.
A model tells you what one assumption implies. The market weighs everything at once. Today those two disagreed, and the market does not owe the model an explanation.
https://techdamentals.com/v/CRM
Educational, not advice.