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Keynes said something like 'markets can stay irrational longer than you can stay solvent!'
A hedge fund shorted MSTR heavily back in March when it was at about 80, on the basis that they couldn't see a justification for the nav premium. They made good money for a few days, but their trade must be so far under water now that it will have drowned.
frank9755
andyfallsoff
Sorry - just trying to understand and latched on to you saying you agreed with one reason (as your logic didn't make sense to me).
I'm still searching for the reason as none of those quoted seem to make sense. So at the moment it does seem irrational, but I could change that view if a logical explanation was provided