December 15th, 2015

Do Public Markets Not Matter Like They Used To?

The new hip mantra is ‘ public markets DON’T matter as much anymore ‘ and a lot of the smart money has moved to the private markets- see Matt Levine’s great post. The people that say this loudest are journalists, fintwit opinionados , underperforming hedge funds and billionaires. The truth is OF COURSE public markets matter depending on where you sit. Here is a lovely reminder from a Stocktwits user I do not know reaching out to thank me and Stocktwits for helping him with his public investing: My friend Barry’s Bloomberg piece went viral titled – why the markets don’t seem to care if the economy stinks is also excellent because he outlines just how bad certain parts of the economy are: 2020’s worst-performing industries YTD: Dept stores -63% Airlines -55% Travel -51.% Oil&Gas -51% Resorts & Casinos -45% These don’t matter to S&P500; De-list the 30 weakest industries & it would barely shave 2% off the S&P 500. Continue reading Do Public Markets Not Matter Like They Used To? at Howard Lindzon.

The new hip mantra is ‘public markets DON’T matter as much anymore‘ and a lot of the smart money has moved to the private markets- see Matt Levine’s great post.

The people that say this loudest are journalists, fintwit opinionados , underperforming hedge funds and billionaires.

The truth is OF COURSE public markets matter depending on where you sit.

Here is a lovely reminder from a Stocktwits user I do not know reaching out to thank me and Stocktwits for helping him with his public investing:

My friend Barry’s Bloomberg piece went viral titled – why the markets don’t seem to care if the economy stinks is also excellent because he outlines just how bad certain parts of the economy are:

2020’s worst-performing industries YTD:

Dept stores -63%
Airlines -55%
Travel -51.%
Oil&Gas -51%
Resorts & Casinos -45%

These don’t matter to S&P500;

De-list the 30 weakest industries & it would barely shave 2% off the S&P 500.

We have massive GlobalMacro headwinds, and more importantly for those of us getting on with our daily lives, major MICRO tailwinds that have capital inflows, exciting careers and opportunities in both the public and private markets.

So yes, the public markets matter as much as ever. If you can’t participate, you should still learn how to read them so you can position yourself for the right careers.

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