"All of us "investors" were investing with the idea that the rules of the game were being upheld."
I would not be so sure. It all started with buying shares
of companies who pays dividends. Then someone figured
out that the right to hold the share is more valuable
than dividends,
so the rules were gradually stirred to EPS, companies
seased to pay meaningful dividends. Then the rules were
changed again to "forward-looking" EPS, low-risk, low
volatility, etc. baloney of "valuation". (I'm sure you
know the history much better than me). Now, which
"upheld rules" are you talking about?
From your post it also sounds that CEOs/CFOs have been
unfair to you, "an investor". But have you ever gave
it a thought which game are you playing yourself?
"Buy low, sell high", right. You only forget about
the implied continuation of this phrase, which could
be "..to a sucker who is left holding the bag". So I think
you are still in the same game, only now on the other
side of it. Therefore I see not much reason to complain.
Back on topic: what do you think of "Moore's law"? Do
you believe Barrett et al. are fair with you when they are
talking about infinite scalability of silicon technology?
Regards,
- Ali |
