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Yes, every investment is like that. The sine qua non of an investment is purchasing a productive asset. If you purchase a non-productive asset--that could be he
by bradleyjg 9y ago
Yes, every investment is like that. The sine qua non of an investment is purchasing a productive asset. If you purchase a non-productive asset--that could be hedging, or speculation, or just consumption, but it isn't investing.
- vasilipupkin 9y agowell, what I mean is, imagine a company that will have no cashflows for 100 years and then with probability 0.01% will have cashflows of 100 trillion gazillion. Buffet doesn't invest in those types of companies normally, that's not his edge.