Re: Investing

From: Dossy (dossy@panoptic.com)
Date: Sat Jun 14 2003 - 21:33:35 MDT

  • Next message: Dossy: "Re: Investing"

    On 2003.06.14, Rafal Smigrodzki <rafal@smigrodzki.org> wrote:
    > Yes, it does. If you understand a technology while others don't, all
    > other factors being equal, you win.

    Any apparent connection between the quality of products and services a
    company offers and its stock price is merely an illusion.

    If company's stock prices were directly related to the quality of its
    products, services, technology, or even employees ... then how do we
    explain the dot-com bubble that just came and went? There were plenty
    of companies pushing vaporware with fresh-out-of-college management who
    had stock prices in the 3 digits.

    It is a beauty pageant. It's all about supply and demand ... and the
    demand is created by the "judges" in this beauty pageant ... and those
    folks are the large institutional investors and the Warren Buffet's of
    the world.

    -- Dossy

    -- 
    Dossy Shiobara                       mail: dossy@panoptic.com 
    Panoptic Computer Network             web: http://www.panoptic.com/ 
      "He realized the fastest way to change is to laugh at your own
        folly -- then you can let go and quickly move on." (p. 70)
    


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