Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (7821)	8/27/2001 5:34:16 PM
From: Maurice Winn	Read Replies (1) of 74559

<As for "loser," he did lose money on Globalstar. There is pathos in losing money, don't you agree?> Not necessarily CB. Money is only representative of a promise by other people to work for the holder of the money [some would like it just to represent owning some gold, but really, it's the other people's promise that we want]. I failed in an investment but the investment created an asset which is still as valuable as I always thought it was. Less one year of wasted marketing effort. I never thought it was worth $2 a minute and was the first to rant for years about how they would kill it by overpricing it. It wasn't like some "investments" where people pay others to dig holes and others to fill them in again, which, while showing up in the GNP, is not to me economic activity. After the investors in hole digging and filling have gone bust, there's nothing left. All the assets of Globalstar are still sitting there [it's a highly capital intensive business and relatively little money was wasted in staff digging holes and filling them in again, though there was a few hundred million in that activity - please note, I am not lying and they have not actually dug holes...it's a figure of speech]. In fact, I haven't yet lost my money. I will know when NewGlobalstar has been in business for a year whether I have lost my money [invested in debt at 4c on the dollar]. I haven't given up yet. Don't feel sorry for me. It's fun to invest in risky things which should achieve great things. Somebody has to do it or we'd all live in teepees and caves forever. I invested in CDMA, which breached the laws of physics [according to a physics professor - I am not lying that it breached the laws of physics, it doesn't]. That was risky too. Mq

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