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To: Robert Rose who wrote (82986)11/3/1999 3:49:00 PM
From: Eric Wells  Read Replies (1) | Respond to of 164684
 
>>you seem to inject a moral or ethical interpretation
>>into this investing/trading game

Robert - I was replying to the words you used in your message - that seemed to imply that being rich is better than being right. I assumed that you did not believe this yourself - but I wanted to clarify.

One could argue that the way our markets currently work provide a benefit to society by helping to establish the proper prices for securities. One could also argue that those who rely on the greater fool theory of investment are utilizing the market as a pyramid scheme.

Personally, I would feel no satisfaction from making money out of a pyramid.

Thanks,
-Eric