<Chanting begets chanting, begets awareness, agitation, realization, movement, panic, and leads onward to mania.>
Well Jay, that's what various cult leaders try to induce, and many get some sort of following. But joining a cult on the off-chance that it'll be the one to take over the world sounds rather like John Walker Linde's idea of joining Osama's crew. Okay, they won the WTC skirmish, but Linde's game is over.
What if we strike up the band with gold tubas, trumpets and drums and the crowd yawns and goes the other way.
<<If speculators are lucky, they'll get a speculative boom in gold. If they are not, they'll be left holding another boring depreciating commodity, of which there are a lot>> …
<How is this different from anything else in life?>
It's nice when my assets get caught up in mania, which sometimes happens. But I'm primarily interested in investing in people who create things which other people want to buy at a highly profitable price.
I don't think I'd be a very good speculator - I like things easier and suitable for somebody who isn't endowed with great ability, lots of luck and desire for zero-sum games of winners and losers [with the house taking a cut].
So, it's quite different from other things in life.
Mqurice |
