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Author Topic: Choice words of wisdom for the forum investors from our esteemed leader.  (Read 5127 times)
MPOE-PR
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June 29, 2013, 05:32:11 PM
 #41

With all possible respect, your boss is an idiot. A lot of people are investing in companies like ASICMiner. I hopefully do not need to explain that serious, long-term investment in stocks has been proven over hundreds of years to have a +EV (unlike gambling, which has a -EV).

Companies like ASICMiner represent significant real-world value; and like "real-world" companies, Bitcoin companies can experience growth, which (in the long term) will translate to a higher share price. Certainly many people will lose money as shares change hands; but, on average, companies tend to be very good at making profit. Profit is +EV.

You accept significant counter-party risk with the purchase of a Bitcoin company like ASICMiner, since there are no well-established laws and exchanges, but the market prices that risk into the share price.

Your boss is confusing alpha with beta. I cannot think of a more rookie mistake.

You're new. That alone makes you say stupid things, and puts you in a position to be unable to realize why exactly and to what degree. I won't engage you on the merits for this reason.

IF you're still around in six months or a year we may revisit this point then. Meanwhile your instruction will be probably best served by copying this comment in your notebook ten times.

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