Big Market Delusion: Electric Vehicles
The siren song of a "big market"â?"opened through innovation or disruption, such as the newly beloved electric vehicles marketâ?"lures investors to enthusiastically push up prices of all firms in the industry as if each will be a major winner. The reality is that as competitors in an evolving industry, some will fail. Pricing each company's stock without regard to this fact is the "big market delusion."
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