Is price replacing value in markets? A financial nihilist's take [Yahoo! Finance]
GameStop Corporation (GME)
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Source: Yahoo! Finance
In this episode of Stocks In Translation , Yahoo Finance markets and data editor Jared Blikre and producer Sydnee Fried welcome Demetri Kofinas, the host of Hidden Forces podcast, for a deep dive into the concept of financial nihilism. Coined by Kofinas in 2019, the term "financial nihilism" refers to the belief that financial planning, investing, or wealth building is meaningless or futile. Kofinas' philosophy of financial nihilism arises from the growing disconnect between price and value. “Markets are about finding the intersection between those two points and trying to buy below, at a price below value,” Kofinas. “Eventually the thing appreciates in line with expectations or underlying value.” However, Kofinas argues that the current state of global markets increasingly disregards this principle, and “everything becomes about the price.” But what's fueling this shift toward a more nihilistic investment framework? According to Kofinas, markets are now more like the art indus
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