Many people are obsessed with understanding George Soros’s “investment philosophy” which is actually very simple, here I will break it down for you.
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Look at GME, AMC or TSLA, look at Bear or Lehman. The perception of a company even when initially wrong can cause it's premise to come into being. The meme supply creates it's own demand
I, too, can cherry pick recent examples where this style of investing worked.
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Is Lehman recent? I know I consider it so but I thought this was a sign that I am old. From a traditional economics view point there shouldn't be any examples, causality is supposed to work in the other direction
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This is obviously false, in fact it would be incredible if there weren’t any examples of it working (you would expect a few just by chance).
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GME is in fact the *worst* example you could have picked because tons of people got burned trying to short it at $60 on fundamentals, buying it at $200 on momentum, or shorting it again on the way down (fundamentals *and* momentum)
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I certainly don't understand why GME would be a bad example. An EMH disciple would say that for every new speculative long that comes in, there should be a new short and the value of the firm should not increase at all, certainly not for a time period exceeding a month.
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