A Wall Street expert unloads on the 'Fyre Festival stock market,' where 'immaterial' businesses rule and experience is a liability

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Vincent Deluard, Director of Global Macro Strategy at INTL FCStone Financial Inc., thinks the 'faking it economy' has distorted the competitive scene.

, isn't coy about sharing his thoughts about an economy he sees less depictive of reality with each passing day. The genesis of his thinking stems from the very institutions that helped rescue the globe from economic disaster: central banks.

"Businesses whose value is not grounded in physical assets or labor become more desirable: assets that do not show up financial statements, such as brand name, access to customers' data, or a base of captive users are the drivers of value in the age of free capital," he wrote in a recent note to clients.

The intangible portfolio starts to outperform the tangible portfolio in 2016 — a phenomenom that is still continuing today."Owning tangible capital is no longer an advantage when capital is free," Deluard said."The best-performing stocks are immaterial businesses with no tangible capital and few workers."

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귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

Lol he must have shorted Took me a few weeks to realize the markets were insane. And it's been insane profit since then

Computer traders are going to send the market to insane highs before a crash which will just be a buying op/

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