[ExI] Peter Thiel Explains How to Invest in the Singularity | Epicenter | Wired.com

[John Grigg]

>
> BillK wrote:
> I'm not sure how much of that loss was his personal fortune.
> The hedge fund that he runs certainly lost big and investors have been
> withdrawing their money.
>
> And his reasoning about rational markets was exactly correct.
> Quote from Peter in Sept 28, 2009:
> "The recovery is not real," he says. "Deep structural problems haven't
> been solved and it's unclear how we will create jobs and get the
> economy growing again -- that's long been my thesis and it still is."
> The contrarian view puts Mr. Thiel among a group of investors with
> impressive track records who are holding out, unwilling to buy into
> the notion of the economy's rebound.
> ---------------------
>
> He missed out on the market recovery because he couldn't accept that
> markets are subject to irrational behaviour.
> I agree completely with what Peter says. The P/E ratios are
> unbelievable, company directors are cashing in their shares and the
> investing public is having nothing to do with this market. Reason -
> This market recovery has been gamed totally by a flood of free
> government money from banks too big to fail. They don't care if they
> lose it all, the government will just have to bail them out again.
> (And we've all got our bonuses again, haven't we?).
> >>>
>


What I find very ironic is that many extremely wealthy people are very
shrewd about human nature, both regarding individuals and also
groups/institutions.  But Peter Thiel has shown that his "logical" approach
to life (invariably coming from a techie/software background) has
utterly failed him in dealing with a very human and at times very irrational
world.



John
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