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Good Optimism and Bad Optimism...and Beyond Meat The DEI Of Food
Howard Lindzon
December 15, 2023
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Social Leverage is an investor (Fund IV)
Good morning everyone.
I read this Jack Levy piece and wanted to share it. It is titled ‘My Little League Team Has Gone To War.’ It starts…
My little league team has gone to war. The kids I coached for over 12 years have grown up to be the finest group of 22–25-year-olds. They are all serving as reservists in Gaza or on the Lebanon border right now. Defending me. Their coach who did not serve in the military (I was 33 when I moved to Israel). I’ve never even fired a gun.
I have great friends in Israel that are now having to fight in Gaza and I check the IDF streams each day hoping I do not see ANY names of people killed in action. It is a habit I can’t wait to quit.
As Hanukkah ends I wanted to add that I appreciate everyone reading the last few months as I have veered off my regular schedule of writing about investing, markets, trends, money and my prostate.
Onward…
Today, I wanted to remind those same ‘optimists’ what it looked like in 2021 when optimism ran wild. Do click through to read Brian’s list and the question that inspired it.
This thread shows just how insane investor sentiment on fintwit was in summer 2021.
The S&P is up ~6% since then.
How did each of these stocks perform?
AYX: -50%
BOMN: delisted
BYND: -94%
DM: -95%
WISH: -98%
FVRR: -88%
GLBE: -45%
JMIA: -85%
LMND: -78%
UPST: -75%
LTCH: -95%— Jack Raines (@Jack_Raines)
Dec 4, 2023
Not to pick on any one company, but I remember the hype of ‘Beyond Meat’ ($BYND) because people were telling me they ‘liked’ it. By the time it went public, there were thousands of venture backed ‘food tech’ companies and too many were chasing after the idea of ‘tastes like_______, but we replaced it with salt and _______’.
As 2023 comes to a close and with it hopefully with it the mutated idea/experiment (Oklahoma Governor of ‘DEI’ (Diversity Equity and Inclusion), it is safe to say that Beyond Meat was the DEI of food!
I think this long term chart of Visa might help serve as reminder of how the markets work over the long run. Be an optimist, but profits do matter.
It’s almost like stock prices follow fundamentals over the long run. 🤯
— Braden Dennis (@BradoCapital)
Dec 14, 2023
Have a great Friday.
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