
Arnott on Bubbles and Valuation Gaps
What Goes Up
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Why Didn't Some Index Funds Buy Tesla?
Tesla was roughly flat from its being added to the index, but the market was up about 20%. So itwas behind the market. A i v, a reat specializing in apartments, was a up 60 % when we last spoke. That's a solid foun foundation for the rebound in price. It's still gone up more than tesla has. And like it said, bubbles can go further than anyone could possibly imagine.
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