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But we saved everything 🙂.
George Noble points out that each quarter tends to bring a new narrative that leads Wall Street to question established valuation principles.
Referring to Oklo, Noble highlights that while stories often influence perception, a closer look at its business reveals that Oklo builds and sells electricity, which fundamentally categorizes it as a utility.
Noble has previously compared 1971 and the present, noting that workers can now buy fewer S&P 500 shares for one year of labor than in the past, according to a prior analysis. He has also commented on a recent shift where most Mag 7 stocks lagged the S&P, marking an end to a dominant trading trend last year, as detailed in an earlier report. Both observations come as investors weigh changing narratives and market performance.