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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: TH who wrote (48776)9/8/2007 11:48:03 AM
From: tyc:>  Read Replies (1) of 78419
 
Having asked the question, I hope that doesn't disqualify me from the discussion. Your posting was extremely interesting, but what are your views on the relative merits of both traits in mining speculation ?

I sure DO agree that " If the cost of failure is potentially catastrophic, use pessimism ", but I think in our game, that the pessimist has a different concept of "catastrophe" than the optimist. Is the decline in price that he attempts to avoid really of "catastrophic" proportion ? My own view is that an optimist's view of "catastrophe" is more fruitful in our game than the pessimist's view. (Even for me, catastrophe DOES exist and is to be avoided)

Similarly, he says that "Pessimists are more realistic than optimists ". Is that true in our game ? Don't pessimists, fearing a (non-catastrophic) decline in price, fail to see the reality that the lower the price the higher the ultimate return (or the lower the ultimate loss) in the future ?
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