The market can only price accurately if all participants are rational or at the very least are on average rational.
As the effective number of participants falls and the need for those participants to make rational economic decisions falls, were likely to see more weworks, theranos, and nikolas.
Wait until we see someone buy multiple city blocks of Manhattan for conversion into a private yard.
Before IPO, I think almost every fraud is unique, even if they have common themes ... but after IPO I think it's more similar to just hype-man using PR and media to keep retail investors avoiding the reality of the balance sheet.
I'm surprised property taxes never caught up with that mansion!?
OTOH you couldn't pay me to spend a night in the same room with that creepy doll !
You just need to do it at the right time, before the market prices in the obvious fraud.
I naked shorted Nikola after the ridiculous spike caused by the initial GM deal. I'm already $100k up on that and I predict I'll make even more as the stock price drops.
I also shorted via short term puts a few days ago, when the price spiked a bit on the hopes of new GM deal. I'm betting that the stock price will drop tomorrow due to expiration of a lock up period which will unleash millions of new shares. I'm already up 100% on that and hoping for at least 500% (although if the stock goes up, I might loose 100%; will know by Friday).
What you call "market has already priced in" is people like me, who acted decisively and took the risk. The information was there, I (and people like me) didn't have any secret info. But unlike those other people, we had the courage of conviction and risk tolerance to take on high risk / high reward bet.
Traditional 401k is pre-tax going in, taxed coming out (a good deal for most people, who even with savings are likely to be lower tax bracket in retirement than during much of their working career.) Roth 401k is post-tax going in, tax-free coming out (a good deal if you are saving enough to end up in a higher tax bracket in your retirement than most of your working years.)
Yes, but it'll get there yet.