Thoughts on your place in the world…
June 13th, 2008
Under the market economy you are rewarded to moving resources from where they are undervalued to where they are valued more — and punished severely for misallocating resources.
There’s a great old book by george soros, alchemy of finance, that you should read to better understand the market.
If the year was 1900 and you operated the #1 wagon wheel factory in the country, what would you do? Answer – CHANGE. The market changes. Everything changes. We either capitalize on the change, or ignore the change and get hurt by it — but no matter how hard we close our eyes, the change will happen just the same.
(Excerpt from an email I sent to a close friend)
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