by Tyler Durden
Wednesday, Apr 28, 2021 - 03:05 PM
Psychedelic drugs have been a hot topic in the financial press this week. Between the hallucinatory experiences of a German billionaire, and the market debut of magic mushroom company MindMed eliciting talk of a shroom boom , most of that coverage has been refreshingly positive. But that changed Tuesday morning when Bloomberg reported that the CEO of a $2 billion startup has been unceremoniously fired for microdosing with LSD at work.
The board of Marketing startup Iterable dismissed the CEO, Justin Zhu, for taking LSD before a meeting back in 2019. Zhu told Bloomberg he had experimented by taking a small amount of the drug (a practice known as microdosing ) in an attempt to boost his focus. Looking back, he probably should have kept this information to himself.
CEO of $2 Billion Startup Ousted for Taking LSD at Work
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5 Best Telecom Stocks to Buy Right Now
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Was The Smart Money Right About Piling Into Taiwan Semiconductor (TSM)?
Although the masses and most of the financial media blame hedge funds for their exorbitant fee structure and disappointing performance, these investors have proved to have great stock picking abilities over the years (that’s why their assets under management continue to swell). We believe hedge fund sentiment should serve as a crucial tool of an individual investor’s stock selection process, as it may offer great insights of how the brightest minds of the finance industry feel about specific stocks. After all, these people have access to smartest analysts and expensive data/information sources that individual investors can’t match. So should one consider investing in Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM)? The smart money sentiment can provide an answer to this question.