WTF is Happening to Spire Stock – SPIR?
There’s no such thing as a free lunch. That’s the title of a book by economist Milton Friedman that business school professors expect you to read as part of your bee school experience. It’s a dreadfully boring book that you can skip by simply pondering what it says on the tin. The saying “there ain’t no such thing as a free lunch” was in use well before Milton Friedman’s dreadful book. It apparently came about when bars served free lunches containing loads of salt so that patrons drank enough beer to more than compensate for the free food they were offered.
This old American proverb is particularly applicable in today’s age of crypto cults that believe assets with no intrinsic value only move upwards.
Everyone wants to believe there’s an easier way to get rich, so the length of time in which they expect to see gains has dramatically decreased. Newbie investors are particularly guilty of this sin – confusing short-term price appreciation with the quality of a business. This is only amplified by all the FOMO coming off get-rich-quick crypto stories.
When a stock price starts moving strongly in one direction, it’s usually because new information has been made available. If you can’t find any new information, subject it to the second litmus test. Is the stock moving erratically in all directions? If the answer is yes, you’ve likely stepped on a landmine of manipulation.
