July 13, 2018

Stocks are not papers meaning prices to trades; those are papers meaning a portion in firms.  Fruits of investments are businesses’ outcome, not fluctuations in numbers of trades by variable phenomena.  Soccer scores in goals, baseball scores in homes, and stock scores in long-term outcomes. In any case, short-term chases in price are speculations, while business ownership of firms are investments. Ownership means not continuous trades, but holds after purchases.  Outcomes of investments are, therefore, long-lasting holds.