If the whole market goes to bet at the roulette, you go bet as well.

Best case scenario you win. Worst case scenario you’re no worse off than anyone else.

From that perspective I think it makes sense.

The issue is that investment is still chasing the oversized returns of the startup economy during ZIRP, all while the real world is coasting off what’s been built already.

There will be one day where all the real stuff starts crumbling at which point it will become rational to invest in real-world things again instead of speculation.

(writing this while playing at the roulette in a casino. Best case I get the entertainment value of winning and some money on the side, worst case my initial bet wouldn’t make a difference in my life at all. Investors are the same, but they’re playing with billions instead of hundreds)