When Elon Musk tweets, no one can ignore it
See the original posting on The Verge
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With apologies to Janet Malcolm, every investor who is not too stupid or full of themselves to notice what is going on knows that what they do isnt exactly rational. Thats why stories matter so much to investors.
Money doesnt behave in the same predictable way that, say, a rocket behaves. It doesnt matter much whether you think the rocket will go up. The rocket goes if the physics is right, and it doesnt if the physics is wrong. Money, being a human construct, functions in a much weirder way: it only works if we all agree it works. And when it comes to investment, that…