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From: | "Timothy Field" <novvis@paradise.net.nz> |
Date: | Mon, 23 Apr 2001 11:40:23 +1200 |
My 2c: Surely *at any instant* the sharemarket is a zero-sum game? The total individual gain is equal to the total individual loss. However, as investment in the economy actually creates wealth (as you said), in the long-run the equity markets are not zero-sum. So, as traders, it is correct to view the markets as a 'win/lose' game; as investors it would be fair to say that an increase in publicly available information leads to an adjustment in expectations promoting better allocation of resources -- a 'win/win' situation in the long-run. Cheers, Tim. -----Original Message----- From: owner-sharechat@sharechat.co.nz [mailto:owner-sharechat@sharechat.co.nz]On Behalf Of Mark Hubbard Sent: Monday, 23 April 2001 10:07 a.m. To: sharechat@sharechat.co.nz Subject: Re: [sharechat] Dissecting the postings. Just a couple of quick comments Mike. Regarding the 'game' metaphor, I guess its valid for you to call the sharemarket a game, if that is the way you view it. In the same way, some might view life itself as a 'game'. Its just a personal point of view. The one point, however, I would like to correct :) is that capitalism and free markets are not necessarily the 'win/lose' game you seem to assume. Rather, in a true free market, unregulated (so I admit we are no where close to that), a transaction, indeed, most transactions, will be 'win/win'. The process is simply two informed individuals coming together to trade value for value to then achieve their own individual ends. And now back to work ... ---------------------------------------------------------------------------- http://www.sharechat.co.nz/ New Zealand's home for market investors http://www.netbroker.co.nz/ Trade on Credit, Low Brokerage. Join now. ---------------------------------------------------------------------------- To remove yourself from this list, please use the form at http://www.sharechat.co.nz/forum.shtml.
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