Just for context: last week people were claiming that SemiAnalysis had deliberately reported a CPO delay in order to help launch a fund (as far as I know, they only act as an advisor) that could buy photonics stocks at lower prices. The fund does exist, and now SemiAnalysis is once again reporting delays. So what’s the conspiracy theory this time? It’s always easier to blame someone else when your investment thesis isn’t playing out (at least for now). Conspiracy theories about market manipulation are especially popular. The possibility that your own thesis might have weaknesses or that you may have overlooked something rarely seems to cross people’s minds. Delays are part of the game. That’s why you should avoid buying stocks that are priced for perfection.