The SpaceX IPO is already upside down. SpaceX’s valuation would place it among the largest companies in the S&P 500, yet its revenue tells a very different story. In this episode, Paul explains how buying an IPO is fundamentally different from trading other stocks in the market and what that matters for investors. Later in the episode, Paul wants you to know how to spot a market “forecast” and explains that pundits are paid to make these predictions and don’t have to be accountable for the losses investors experience because of them.
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