Invest in proven history and not just a hopeful future
All of us love a good story that paints great value in the future. Making predictions is complex as there are too many unknown variables. However, research in the business's history can gain us conviction and confidence for what lies ahead. Extract from WSJ: Rivian Automotive $Rivian Automotive, Inc.(RIVN)$ and Lucid Group $Lucid Group Inc(LCID)$ had terrible weeks on the stock market. Rivian shares fell 25% after the company cancelled price increases imposed on customers who had already ordered its truck, issuing a grovelling apology. Lucid cut its anticipated output for 2022 to between 12,000 and 14,000 vehicles from 20,000. The shares fell 14% for the week. Lucid Group overview (Yahoo Finance) The main reason that I could not invest in both companies after their listing is their absence of a proven track record (history) . Buying based on "a hopeful future" should not form a basis for investing. A proven track record ...