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Peter Thiel sells off all Nvidia stock, stirring bubble fears

thestreet.com

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Re: Peter Thiel sells off all Nvidia stock, stirring bubble fears

#81

Post by [deleted] »

jamesblonde wrote: post #33
iammjm wrote: post #28

Peter Thiel the guy that believes that the literal biblical antichrist is walking amongst us? How much rational thought can one really expect from this guy? I am not questioning AI being a good investment or not, I am questioning this dude's sanity

He's scarily sane. I am not joking when I say he invented the anti-christ thing as a way to entrench the billionaire class. He's basically saying the anti-christ will be somebody who want to solve the world's problems through collective action. So collective action is bad. We are in such an unbalanced world, that that is the best argument he can come up with for why we should allow such wealth inequality in society.

[deleted]

Re: Peter Thiel sells off all Nvidia stock, stirring bubble fears

#83

Post by defrost »

markus_zhang wrote: post #73
iammjm wrote: post #28

Peter Thiel the guy that believes that the literal biblical antichrist is walking amongst us? How much rational thought can one really expect from this guy? I am not questioning AI being a good investment or not, I am questioning this dude's sanity

I mean if I were a Christian I wouldn’t be surprised that the anti Christ is among us. The only difficulty is to pick which one of them is. But I’m an atheist so I don’t care about it.

As a rational atheist living on a shared resource in which a very small group have control over most of the assets, shouldn't it concern you if they leverage talk about an antichrist to edge out the masses even more?

The concern is less about what others announce as a belief, more about future access to essentials.

Re: Peter Thiel sells off all Nvidia stock, stirring bubble fears

#85

Post by markus_zhang »

FrankWilhoit wrote: post #2

When someone like this does something like this, it is not an economic act. It is a signal of some kind, a move in an opaque chess game, whose players are nowhere near as smart as they think they are.

Maybe this?

Finance is the gun. Politics is to know when to pull the trigger!

Re: Peter Thiel sells off all Nvidia stock, stirring bubble fears

#86

Post by lisbbb »

iammjm wrote: post #28

Peter Thiel the guy that believes that the literal biblical antichrist is walking amongst us? How much rational thought can one really expect from this guy? I am not questioning AI being a good investment or not, I am questioning this dude's sanity

Not a fan of Palantir or Level3 (L3?) Systems myself--talk about companies ushering in a police state!

Re: Peter Thiel sells off all Nvidia stock, stirring bubble fears

#87

Post by churchill »

BurningFrog wrote: post #55
iammjm wrote: post #28

Peter Thiel the guy that believes that the literal biblical antichrist is walking amongst us? How much rational thought can one really expect from this guy? I am not questioning AI being a good investment or not, I am questioning this dude's sanity

I expect continued economic performance from a guy who went from nothing to... $25B was the latest number I heard. Empirically, I don't think Christians do worse investments than us atheists, so rationally speaking I don't think it's much of a factor.

[dead]

Re: Peter Thiel sells off all Nvidia stock, stirring bubble fears

#88

Post by skybrian »

pojzon wrote: post #31
scarmig wrote: post #24

Earlier quoted context omitted.

Is he required to buy stock? AFAIK he could just as well hold cash or bonds, and if he believes a bubble pop is imminent (within the next couple months), that would be a responsible move.

Thing is, people dont know what will happen if this bubble bursts. Its so big that it could take with it whole global market. There is no safe asset you can turn into in such a case, digital money would literally mean nothing when whole financial system collapses.

This doesn't track with what happened after previous bubbles.

Investors will be sad, but businesses that still do useful work will still have revenue. Why would they be worthless?

Re: Peter Thiel sells off all Nvidia stock, stirring bubble fears

#90

Post by jmye »

jameslk wrote: post #21
awestroke wrote: post #15

Probably wants more liquidity to funnel into the pain and suffering industry

No need to guess, the article literally states where the money went: > That’s why Thiel rotated into Microsoft and Apple, tech giants with more diversified revenue streams, cloud scale, devices, and software.

Moving into Apple, given the potential risk/uncertainty in a new CEO and no real new revenue streams, is an interesting choice. I guess maybe it feels relatively safe? But even then, if there's any real downturn, they seem pretty at risk, as the 'luxury' brand.
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