If the value of something is dictated by the market then how can it be objective.. its dictated upon by outside forces.
I see what you are getting at. You are resurrecting that old canard about "intrinsic" value. We hashed through whether gold had intrinsic value many many months ago. I think on the DGC Chat list, but who can say now?
I won't get into that discussion again.
Each have their own interests when deciding to buy or sell this entity.
Of course they do. Self interest is what makes the market work.
"Destroyers seize gold and leave to its owner a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it." Ayn Rand.
That's what I mean when I say that gold is an objective value especially as compared to the arbitrary value of Federal Reserve Notes.
Any good MBA program will usually teach you that past performance alone is usually a poor indication of future potential.
Ah. So, should I gather that you are now sniping at my MBA? Or the program that granted it? Do we really have to go ad hominem?
Having been through a very highly regarded MBA program, I can assure you that they don't teach any such thing. Rather, what you are citing is the text from some disclaimer that one might find in a prospectus or business plan risk analysis. It is just boiler plate stuff.
Actually, in fact, past performance and present performance are always used as a gauge for future value. We have, as Patrick Henry so eloquently noted, only one lamp by which to guide our feet, and that lamp is experience.
The whole idea behind pro form analysis, net present value analysis, future value analysis, is that the past performance of a company can be extended into the future to give some idea of what it will produce. Yes, the analysis is fraught with risk. Competent analysts can identify many of these risks. One can even set an error bar around the rate of return calculation.
The market has a value for everything..
Yes, and there are marketers who are able to sell nothing.
The selling and leasing of gold by central banks is not a policy matter?
Who knows? Are you saying that policy matters are not a part of the market?
Thanks for the grammar lesson
To be sure, "one is glad to be of service."
woops.. I probably meant Ounce instead of gram...
Okay then! <grin>
Yes, you can certainly get me to keep my tenth ounce of gold if all you are ready to offer me today is $30. A couple of years ago, I would have parted with one of the tenth ounce coins I had for that price, but those days are over.
Regards,
Jim http://www.ezez.com/
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