Op-ed: Investors chasing bitcoin and Tesla should have real goals — and shouldn’t forget them

I was about to offend someone, so I decided to write instead. Am I supposed to listen to one of my tennis buddies' daughters who wants to buy a tiny share of bitcoin because her friend did a year ago and is really rich now? How about my pals who ask me about Tesla again and again? I never say, "don't do it." I just repeat what I believe, which is that these are speculative assets whose prices are divorced from any valuation measures we use.They could easily keep going up, as the song "Ain't No Stoppin' Us Now" implies, until the music stops, which it will, or might have already. The high-octane Nasdaq Composite index peaked on February 16th, so my timing could be a few days late. However, as professional investors, my colleagues and I have goals and objectives to which we need to focus, and the discipline…

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