Arguments and too many cents thrown in...
Sense and Sensibility at the Stock Exchange - Dedicated to the various men and some women who made life more difficult than ever before.
Well, we all know the question but what is the right answer?
The Fundamentalists like Graham, Todd (or was it Toad), Buffet all vouched for the Intrinsic value of the company. Well, they kept it simple and understandable. This helped a lot of people with redoubtable numerical skills to enter the financial world. They never got the Nobel Prize but many of them (like Buffet) made loads of money.
The Technical guys started by that almost reprehensible Charles Dow suggested that History was the best subject. Look back and we see the future. Years later, Stephen Hawking, in his brief history of Time, explained this better by using the ‘foldable
space-time continuum’ thingies. Well Chartists never made money nor did they get any Noble Prize. But Dow single-handedly ensured employment for a quarter of American population.
Then the Random Walkers (Alias ‘Demon of Chance’, Drunkards etc) were born. Well they used all those complicated mathematical symbols to make finance more imposing and complicated to understand. None liked them except the academicians (who finally got a sense of pride in their mundane and almost despicable work!) and the students (of non-commerce background especially engineers).
This group ensured that that engineering grads with NO marketing ability finally got jobs (and obscenely paid at that!).
This group got the Nobel Prizes but made no money. In fact, any one who trusted them LOST a hell lot of money. Ask the poor buggers who invested in LTCM. Well, one can’t blame because the worse case scenario which had a probability of occurring once in a
trillion years, just decided to occur in the 5th year (or thereabouts) of commencement of operations.
[I always thought the Nobel Guys were mad. First, they give a prize to Heckscher / Olin for proposing something and then they give another award to Leontif for disproving it. Geez…]
Finally we had the Diplomats, who opinioned that all of the above were correct or incorrect (depending on where they were speaking). Finally this group decided
on the uniform answer of “75-22-3 principle” (well, imagine a femme fatale with such stats!).
My take or two cents
I am too concerned for the reader’s well being to continue; BUT if anyone’s actually read all the above ‘incoherent nonsense’ and then had the strength to reply back, I will respond.
(This article was posted in a mail to finance_knowledge yahoogroups by myself. Slight modifciations have been made in this article)
Well, we all know the question but what is the right answer?
The Fundamentalists like Graham, Todd (or was it Toad), Buffet all vouched for the Intrinsic value of the company. Well, they kept it simple and understandable. This helped a lot of people with redoubtable numerical skills to enter the financial world. They never got the Nobel Prize but many of them (like Buffet) made loads of money.
The Technical guys started by that almost reprehensible Charles Dow suggested that History was the best subject. Look back and we see the future. Years later, Stephen Hawking, in his brief history of Time, explained this better by using the ‘foldable
space-time continuum’ thingies. Well Chartists never made money nor did they get any Noble Prize. But Dow single-handedly ensured employment for a quarter of American population.
Then the Random Walkers (Alias ‘Demon of Chance’, Drunkards etc) were born. Well they used all those complicated mathematical symbols to make finance more imposing and complicated to understand. None liked them except the academicians (who finally got a sense of pride in their mundane and almost despicable work!) and the students (of non-commerce background especially engineers).
This group ensured that that engineering grads with NO marketing ability finally got jobs (and obscenely paid at that!).
This group got the Nobel Prizes but made no money. In fact, any one who trusted them LOST a hell lot of money. Ask the poor buggers who invested in LTCM. Well, one can’t blame because the worse case scenario which had a probability of occurring once in a
trillion years, just decided to occur in the 5th year (or thereabouts) of commencement of operations.
[I always thought the Nobel Guys were mad. First, they give a prize to Heckscher / Olin for proposing something and then they give another award to Leontif for disproving it. Geez…]
Finally we had the Diplomats, who opinioned that all of the above were correct or incorrect (depending on where they were speaking). Finally this group decided
on the uniform answer of “75-22-3 principle” (well, imagine a femme fatale with such stats!).
My take or two cents
I am too concerned for the reader’s well being to continue; BUT if anyone’s actually read all the above ‘incoherent nonsense’ and then had the strength to reply back, I will respond.
(This article was posted in a mail to finance_knowledge yahoogroups by myself. Slight modifciations have been made in this article)
posted by Ace Experience [Ax] at 9:25 AM
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