I saw someone say that this year’s return on Canadian energy stocks is 80%, and that U.S. Treasury yields are moving toward 6% too. This combination has me a bit confused. Even the risk-free rate is already 6%, yet money is still rushing into higher-volatility positions. Either someone is betting on the commodities cycle, or they simply don’t treat risk seriously.
It reminds me of writing code back then—the thing I feared most wasn’t errors, but the system not throwing any error while the result was wrong. Now looking at U.S. stock valuations, especially a company like UBER, where profit growth of 35% is still being called “valuation disconnected,” I get the same feeling. The data are all right there, but the logic doesn’t add up.
Maybe the market never really needs logical consistency—it just needs someone willing to take the baton next.
It reminds me of writing code back then—the thing I feared most wasn’t errors, but the system not throwing any error while the result was wrong. Now looking at U.S. stock valuations, especially a company like UBER, where profit growth of 35% is still being called “valuation disconnected,” I get the same feeling. The data are all right there, but the logic doesn’t add up.
Maybe the market never really needs logical consistency—it just needs someone willing to take the baton next.