Comment by mlsu
13 hours ago
Because our markets are no longer efficient at allocating capital. These companies are too large, they don't compete. They can buy a company for half a billion and write it off a few months later, at the whim of someone deranged by hype. How many businesses in competitive markets can afford to do that?
And the reason is all of you dumping cash into the market no matter what because John Bogle said so half a century ago.
I disagree - yes, some companies are overvalued, but it isn't because of index investors.