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.