From: Robin Hanson (rhanson@gmu.edu)
Date: Tue Jun 10 2003 - 05:33:38 MDT
It seems to me that you are the most conservative investor there is; you
invest all of your income in immediate consumption. You want your returns
so immediate that there is not time to invest them at all. And then you
criticize other investors, who actually take a chance by putting their
income into ventures that may or may not be successful, saying they should
take even more chances than they do. Ever hear of the mote in another's eye?
Spudboy100@aol.com wrote:
>Yes, my claim is that investors want returns on their investment as
>rapidly as possible. Furthermore, capital is likely to chase a nearer-term
>result. Thirdly, the development costs of things like plasma-ion drives,
>and small-scale fusion reactors, as mentioned originally by myself, are
>considerable.
>
>Alas, I have too lttle capital to invest, although a business friend of
>mine has recommended I-bonds lately.
>
>Dr Hanson commented:
><<If the claim is that investors underestimate the likelihood for success
>of efforts to develop such ambitious products, or the demand for such
>products once developed, then you should be able to make above market
>returns by investing in firms that tend to try more ambitious
>projects. Do you so
>invest?
Robin Hanson rhanson@gmu.edu http://hanson.gmu.edu
Assistant Professor of Economics, George Mason University
MSN 1D3, Carow Hall, Fairfax VA 22030-4444
703-993-2326 FAX: 703-993-2323
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