mavaron's craps on investment - I

Let me talk something nonsense. 5 at a time. Enjoy.

(1) "In investment world, universal truth is universal crap."

(2) "There is no supply-demand stuff in this world. There is only one thing called demand."

Comment: Many startups' mistake is to think they create supply by simply producing. Without demand, what they produce is just bulk of junk.

(3) "Sometimes you win not because you are having an edge. Simply because you are able to take bigger loss."

Comment: See example at beginning of "Liar's Poker". I always say, gambling is wrong but everyone should appreciate gambler's spirit. That is, your mind should be Borel set objectively and Markovian subjectively.

(4) "You are not playing with the market, but other players."

(5) "Market is not always right, but was and will be always right."