https://alluvial.substack.com/p/finding-value-in-faraway-places
I have a few thoughts on this piece, none of which lead towards anyone in the U.S. should be getting involved°hard word in this.
- There's°hard word a certain sense that investing°hard word in a company in Papua°hard word New Guinea°hard word that is generating°hard word massive returns on capital°hard word feels immoral°hard word. Where is this money coming°hard word from, and why are you taking it? Isn't°hard word this just a new form of colonialism°hard word?
- How much of this is, the stock market isn't°hard word real? Or, the stock market in the US actually is real but this one isn't°hard word. There are no "bid°hard word/ask" prices for many of these. There is no "price discovery". One company can trade at twice its value, another at half its value.