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Al,
Very well put. This addresses what I was trying to say. But I was also
trying to relate it to those at the top of the capitalistic food chain.
The 1 percent that controls most of the wealth in our society. Soros
would probable fit into that category. The beauty, although I will
remind you is quite sad, is to be able to recognize the Asian financial
crisis in these terms of a few individuals controlling most of the
resources. If you are able to except what Al is saying as true, then it
should be just as easy to take the next step an realizing that if you
had tons of money and liked to trade / speculate in the financial
markets. You could and would effect more lives as a result of your
actions.
Not to make light of what Jerry had to say about building wealth. This
is true. But the question becomes building wealth for who? I would say
that the more modern view, is that capitalism is a place where all can
have the opportunity to accumulate wealth. If you go back 120 years ago,
this wasn't the case. But us wanna be capitalists have to realize that
we are really not financially wealthy, even if we think we have a good
standard of living. No different than those who live well, but only two
paychecks from poverty.
Also Richard asked if I am implying that Soros should feel guilty. I
implied nothing. I was pointing out historically how money lenders would
give charitable to the church as they got up in age. It was also
documented that these men felt guilty because of the lives that they
lived. I was trying to point out that Soros is following in the same
historical footsteps. Look at Time magazine. Weather he feels guilty you
would have to ask him. (He is no spring chicken.)
I am not sure if this point was missed or not but the Asian Financial
crisis has taught me that T.A. and fundamentals is only part of the
picture. Balance of payments and current accounts are just as important.
They tell us how stable our country is and it's trading partners. When
we invest or trade we are looking for opportunities to make money. These
opportunities to make money go beyond our T.A. and fundamentals. So
another place to find opportunities is by looking at the balance of
payments and current accounts of our country and other countries.
Harley
Al Taglavore wrote:
> Greatelto wrote ".... and that because of the game, those who gain
> wealth take it from
> somebody else, and they therefore, wind up with less. The strong take
>
> from or
> create the weak.
>
> You mention nothing about creating wealth, which in my opinion, is the
>
> most
> important point. Capitalism is about building and creating new
> wealth,
> which
> in turn will benefit most but not all people. It is not a perfect
> world
> that
> we live in and it never will be. But like a stock market, there are
> many
> opinions.
>
> Jerry
> ===================
>
> I would like to add to my wealth in a very significant way. I trade,
> and when I trade, I attempt to extend my gains and cut short my
> losses---just like the good book says. If I am to add to my wealth,
> someone must lose: there is no other way. The commodity markets are a
>
> zero sum game. If I am to create wealth, then I can not see that it
> will benefit the most people, as I do not intend to re-distribute my
> wealth. If I lose a trade, someone else adds to their store with what
>
> once was mine.
>
> I have read and re-read Harley's original post, and I cannot find what
>
> he wrote that has brought forth such a clamor. Does not Edwin Lefevre
>
> (Reminiscences of a Stock Operator) write about what Harley stated?
> Does anyone believe that market "engineering" does not now, and has
> not
> always existed? When any of you make a trade, are you not attempting
> to
> get someone else's assets? The markets are not about strong and weak.
>
> Simply, the risk taker who is right wins and the risk taker who is
> wrong
> loses.
>
> I surely do not intend to add fuel to this fire, but I cannot
> understand how such a simple post has drawn such passionate
> discussions. I will now go back to analysing my Bond and D-Mark
> charts
> in the hopes that I can put on a winning trade tomorrow, add to my
> wealth, and try not to fret that if I have won, someone else has lost.
>
> Al Taglavore
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