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And there, again, the myth is repeated that the market is an efficient way to encourage good ideas. It isn't. It's a good way to encourage safe ideas.
by alphaalpha101 9y ago
And there, again, the myth is repeated that the market is an efficient way to encourage good ideas.
It isn't. It's a good way to encourage safe ideas.
- mathattack 9y agoAre you saying that limiting people's ability to exit bad investments encourages good ideas?
- alphaalpha101 9y agoI think that the stock market model encourages short-term thinking. I think everyone agrees with that. Thankfully there's another option: just don't sell out. Stay private. You might not become a billionaire, but who really wants to be a billionaire anyway?
- valuearb 9y agoJust because "everyone" agrees with something doesn't make it true. Amazon, Berkshire Hathaway, Apple, etc, etc, are public businesses run for the long term best interests of their shareholders.