> If my thesis on bitcoin is right, it’s hard to say how long it will take for the market to reflect it.
There's a lot of talk about value here, but I'm glad the author also specifically mentions one of the value-trader's biggest blind spots: Time, or as another has put it, "how long the market can stay irrational."
It's really too bad there are no specifics noted as to the author's timing strategy and options dating. It would be really easy to screw that up and learn some hard lessons about subjective valuation, however deep and concerning such a perspective may be.
Interesting article, and the author may be correct that publicly traded bitcoin mining companies' stock price will go down. But when? I think this makes shorting these shares a huge risk.
There's a lot of talk about value here, but I'm glad the author also specifically mentions one of the value-trader's biggest blind spots: Time, or as another has put it, "how long the market can stay irrational."
It's really too bad there are no specifics noted as to the author's timing strategy and options dating. It would be really easy to screw that up and learn some hard lessons about subjective valuation, however deep and concerning such a perspective may be.