What Moderna's vaccine tells us about short-termism
Great post! I wonder how we could look into the data to see this. Is P/E the only systematic evidence? Or is investment showing up somewhere else that we are not looking properly? Like how people have tried to account for sweat equity.
There are few other metrics in the Kaplan paper. Larry Summers draws attention how hard it is to test either way: https://www.washingtonpost.com/news/wonk/wp/2017/02/09/larry-summers-do-companies-care-too-much-about-the-short-term-the-jury-is-still-out/?utm_term=.3c0bd6d72914
Great post! I wonder how we could look into the data to see this. Is P/E the only systematic evidence? Or is investment showing up somewhere else that we are not looking properly? Like how people have tried to account for sweat equity.
There are few other metrics in the Kaplan paper. Larry Summers draws attention how hard it is to test either way: https://www.washingtonpost.com/news/wonk/wp/2017/02/09/larry-summers-do-companies-care-too-much-about-the-short-term-the-jury-is-still-out/?utm_term=.3c0bd6d72914