29-01-2015, 11:37 AM
(29-01-2015, 09:57 AM)edragon Wrote:(28-01-2015, 12:36 PM)specuvestor Wrote: ^^Like I mentioned in my previous post... it is clear someone sure win
Yes, you are right. It's only a transfer of wealth...from someone to another person.
Zero sum game or Zero sum + game ?
Just make sure that in any financial game one do not be the eventual transferor. One must end up to be the transferee.
So to sum up, if you are indeed winning, take profits BE THE TRANSFEREE.
Even though it is against the wisdom of this Site, it is price that we are concerned with eventually. Talked until death, it is still price, price & price so the end game is profit, profit & profit.
If it goes up (the price) we are happy.
Actually value investing is concerned about cashflow. The price is important as a denominator to the cashflow yield. That is why Buffett's holding period can be forever and happy to see prices come DOWN.
Capital gain actually is incidental to cashflow, but that's a boring proposition to most investors who are looking at prices everyday. Capital gains from newsflows and stories are much more exciting, I can't say specuvestor is immune to that

Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
Think Asset-Business-Structure (ABS)