In August 2011, I wrote my first financial piece online. Even though I’ve been at it for three years, that has not been enough time to cover a full business cycle. Really, since 2009, the stock market and the economy has been moving in the same direction: up.
That leads to all sorts of distorted impressions, complicated by the fact that the constant updates about stocks (which we can sell at a click of a button!) that make it easy for us to rent company ownership positions on a yearly, monthly, or even weekly/daily basis without actually applying anything resembling a long-term framework.
For instance, I recently wrote something about The Craft Brew Alliance, which was trading at $11.06 last week when I wrote an article about it on Seeking Alpha. I pointed out some things I liked about the company: it was charging high premiums for its craft beer … Read the rest of this article!