Scrap the Model: A Note to the Street
To the quants, the analysts, the value disciples still tethered to the past:
It’s time to scrap the model.
Your discounted cash flows won’t catch this.
Your Sharpe ratios won’t explain it.
Your beta, VaR, regression, PCA —
none of them will decode what’s happening here.
Why?
Because this isn’t a move from price.
It’s a move of price.
We’r…
