Endless passive investment flows validate any prior price, no matter how ridiculous. This amplifies mispricing and makes betting on Momentum a winning trade. Can that last forever?
I recommend to have a look at mike green work on the matter
Seems like most of his content is paywalled, but I found a podcast he discussed this. Will listen to it, thank you!
I recommend to have a look at mike green work on the matter
Seems like most of his content is paywalled, but I found a podcast he discussed this. Will listen to it, thank you!