Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: PerryA who wrote (108)	10/24/2000 2:00:21 AM
From: quasar_1	Read Replies (1) of 74559

Real Goods... I believe you are making the assumption that there is in most companies real indestructable wealth underlying their market valuations. Let me be clear. I do not assume that at all. I do assume wealth is constantly being created. Many companies will fail. Some have high valuations. Some contribute veritably nothing to the 'real wealth'. In fact I could make the claim that some entities remove real wealth. Some companies have low valuations and contribute greatly to the 'real wealth'. In the end valuations are part of the 'stock market game'—more a psychological exercise in greed and fear than an instantaneous measure of value. I hold two thing true: 1) Real wealth is being created every day by private companies, public companies, laborers both union and non-union, governments, individuals working for themselves, people from every facet from the society—rich, middle class and poor. Animals contribute real wealth. Insects contribute real wealth. Plants create real wealth. 2) Real wealth has nothing to do with nominal capital. I hope that makes my statement clearer. Thanks for your thoughts! Quasar

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