Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.07

-1.0%

Nov 18 3:59 PM EST

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To: Jim Willie CB who wrote (58868)	1/2/2000 2:36:00 PM
From: TigerPaw	Read Replies (1) of 152472

on "just on paper" millionaires All investments have some element of risk. The idea of a paper millionaire has more to do with not recognizing that risk. Having shares of Qualcom which add up to $1,000,000 at year's closing does not mean that that you can buy $1,000,000 of something else. There are taxes and commissions for one thing. But most important is the idea of risk. Who can doubt that any of the leading stocks could correct by 20%. If there is any condisention toward "paper millionaires" it is to those who don't understand that the present value of any investment is governed by several factors, including a risk discount and an inflation discount. There is also opportunity, which is kind of a negative discount. A million dollars cash, today, could buy Qcom, but Qcom could not be sold for a million. However a year from now a million dollars cash is less than that due to inflation while a million dollar Qcom portfolio could be worth much more. TP (Better paper profits than no profits at all) Edit - this is a general comment, I'm not trying to imply you or other readers do not take risk into account. - TP

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