You know that I’m highly suspicious of market buzz, and because I watch lots of CNBC and Bloomberg I’ve heard lots of it. I remember the buzz surrounding internet stocks. I remember Mary Meeker, and her “rationally reckless” position.
But I never heard this one:
If you bought $1000 worth of Nortel stock one year ago, it would now be worth $49. If you bought $1000 worth of Budweiser (the beer, not the stock) one year ago, drank all the beer, and traded in the cans for the nickel desposit, you would have $79.My advice to you . . . start drinking heavily. From Burton G. Malkiel’s A Random Walk Down Wall Street.
Now there’s a metric I can get behind.