Posted by Barry Norris
Like many financial scams Bitcoin purports to offer something complex and sophisticated. The initial concept set out by “Satoshi Nakamoto” in 2008 suggested a digital currency that would enable peer to peer financial transactions, cutting out financial intermediaries extracting exorbitant economic rents.
Posted by Barry Norris
Equity investors talk less about time horizons than their fixed income counterparts but when they do it is almost always to encourage a “long-term perspective”. The process of economic evolution will eventually and incontrovertibly ensure that the “wonderful business” will triumph over the “mediocre”. Since the quality of a company is invariably already reflected in a higher stock market valuation this would also imply that valuations are relatively unimportant over the long-term.
