Trading desks across the floor are buzzing with rumours that a large hedge fund has taken a significant short position on the laser pointer market. Analysts say the sector is overvalued, overhyped and, crucially, inaccessible.
We spoke with Biff, who is long on lasers. ‘The dot always comes back,’ he said. ‘It’s the only investment that runs away from you and is still the best one I own.’ Our own view is cautious. A dot you cannot catch is a dot you cannot sell, and we recommend that clients stay in mice, which can at least be dropped.
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