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#1
08-08-2007, 02:13 PM
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Re: Too Much Information
[ QUOTE ]
[ QUOTE ] "Let's say I offer you a bar of gold. You know, for a fact, that it is 100% real gold. I hand you the bar of gold, which is about as big as your phone, but you are not allowed to weigh it or in any other way attempt to determine its mass, volume, etc. Then I tell you that I'll sell you the bar for $50. Now do you care what the hell it's worth?" [/ QUOTE ] Definition of what makes a great investment... [/ QUOTE ] I'm not following. Is this sarcastic, serious, something else? 
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#2
08-08-2007, 02:23 PM
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Re: Too Much Information
[ QUOTE ]
[ QUOTE ] [ QUOTE ] "Let's say I offer you a bar of gold. You know, for a fact, that it is 100% real gold. I hand you the bar of gold, which is about as big as your phone, but you are not allowed to weigh it or in any other way attempt to determine its mass, volume, etc. Then I tell you that I'll sell you the bar for $50. Now do you care what the hell it's worth?" [/ QUOTE ] Definition of what makes a great investment... [/ QUOTE ] I'm not following. Is this sarcastic, serious, something else? [/ QUOTE ] Probably sarcasm. Also, "I hand you the bar of gold, which is about as big as your phone, but you are not allowed to weigh it or in any other way attempt to determine its mass, volume, etc." If you hand me the gold, I can still guesstimate its weight, look at what the market is paying per ounce, and determine if $50 is a bargain or not. So of course I care how much it is worth. Maybe the analogy was just a figure of speech and wasn't meant to be taken seriously? [img]/images/graemlins/confused.gif[/img]
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#3
08-08-2007, 02:25 PM
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Re: Too Much Information
[ QUOTE ]
[ QUOTE ] [ QUOTE ] "Let's say I offer you a bar of gold. You know, for a fact, that it is 100% real gold. I hand you the bar of gold, which is about as big as your phone, but you are not allowed to weigh it or in any other way attempt to determine its mass, volume, etc. Then I tell you that I'll sell you the bar for $50. Now do you care what the hell it's worth?" [/ QUOTE ] Definition of what makes a great investment... [/ QUOTE ] I'm not following. Is this sarcastic, serious, something else? [/ QUOTE ] I'm baffled shouldn't this bar of gold be well into the five figure range? I mean if every case was this easy, I'd just take free money that people are handing out and sit around all day.
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#4
08-08-2007, 02:29 PM
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Re: Too Much Information
Wow, sometimes I guess you really have to spell it out.
HERE WAS THE POINT OF WHAT I SAID You can tell it worth a lot, and more importantly, a lot more than you're going to have to pay for it. You don't know exactly what it's worth and you could easily be off by 20% or more if someone asked you to fill in the value of the purchase. However, those limitations notwithstanding, it is still an obviously good idea to buy the gold.
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#5
08-08-2007, 02:37 PM
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Re: Too Much Information
[ QUOTE ]
Wow, sometimes I guess you really have to spell it out. HERE WAS THE POINT OF WHAT I SAID You can tell it worth a lot, and more importantly, a lot more than you're going to have to pay for it. You don't know exactly what it's worth and you could easily be off by 20% or more if someone asked you to fill in the value of the purchase. However, those limitations notwithstanding, it is still an obviously good idea to buy the gold. [/ QUOTE ] Sorry, you know... Text has limitations with stretched examples and I kinda glossed over when I read through that Wynn stuff. Rereading it makes it very easy to understand. Me: -1
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#6
08-08-2007, 07:50 PM
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Re: Too Much Information
[ QUOTE ]
Wow, sometimes I guess you really have to spell it out. HERE WAS THE POINT OF WHAT I SAID You can tell it worth a lot, and more importantly, a lot more than you're going to have to pay for it. You don't know exactly what it's worth and you could easily be off by 20% or more if someone asked you to fill in the value of the purchase. However, those limitations notwithstanding, it is still an obviously good idea to buy the gold. [/ QUOTE ] I wasn't being sarcastic. The best investments are easy decisions that don't require lots of data to support them. They are "obvious".
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#7
08-08-2007, 05:33 PM
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Re: Too Much Information
[ QUOTE ]
[ QUOTE ] [ QUOTE ] "Let's say I offer you a bar of gold. You know, for a fact, that it is 100% real gold. I hand you the bar of gold, which is about as big as your phone, but you are not allowed to weigh it or in any other way attempt to determine its mass, volume, etc. Then I tell you that I'll sell you the bar for $50. Now do you care what the hell it's worth?" [/ QUOTE ] Definition of what makes a great investment... [/ QUOTE ] I'm not following. Is this sarcastic, serious, something else? [/ QUOTE ] highly doubt thats sarcasm. you made a great point and DC si agreeing. good analogy; gold=stock easy to value gold and while you acan't determine exactly what it is worth, you know for a fact (given your assumptions) that it is worth well more than $50. Barron
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