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I love the assertion that a stock reflects some sort of real value. They don’t, the market is an irrational pile of crap, and that’s why index funds are the bes
by around_here 7y ago
I love the assertion that a stock reflects some sort of real value. They don’t, the market is an irrational pile of crap, and that’s why index funds are the best. They take the cream of the crap.
- Scoundreller 7y agoI like to think they get all the value of active investing without having to pay for it. Kinda like if I beat the price of your life insurance policy by 1 cent. I’ve effectively externalise the actuarial and marketing costs to somebody else.
- mensetmanusman 7y agoThat’s true of fiat currency - and gold.