Comment by toomuchtodo

> I wrote the other day that “the way finance works now is that things are valuable not based on their cash flows but on their proximity to Elon Musk,” and I am already tired of it. It was a joke? But in a couple of years there are going to be 800-page textbooks on Elon Musk Proximity Pricing; it will be a whole unit on Level 1 of the CFA. You might think that “did Elon Musk tweet about a thing” would be a simpler valuation metric than, like, “estimate its cash flows in perpetuity and apply an appropriate discount rate,” but I don’t know, there’s a lot going on.

Money Stuff: The Elon Markets Hypothesis - https://www.bloomberg.com/news/newsletters/2021-02-10/elon-m... | https://archive.today/cZo0E - February 10th, 2021