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Posts by Petepan

The market is indeed mostly efficient. The problem with EMH is the postulation that the market is perfectly efficient. The difference is night and day. I say the EMH is a call to mediocrity because the basic argument is that it is futile to beat a perfectly efficient market. In other words, dont bother getting sub10 in a dash cos the average is 14.As to market beating performance, this is usually evaluated over long periods of time, typically five years or more. As the...
That makes sense Cox. That is why I said finding an occupation which one is passionate in is an iterative process. The motivation to better oneself everyday in an occupation can only be sustained over a long period of time with passion, driven by positive feedback. Not a lot of hobbies translate to an occupation. For example, avid video gamers may think a gametester job is fantastic, but the reality of the job is that it requires minute attention to detail and...
Who says I cannot beat indexed funds? I make my investors happy and secure in retirement, whilst learning new things every day from all quarters of life. businesses and industries. I wake up to every new day looking forward to learning more, solving new puzzles, overcome chalkenges and getting paid for it. What could arouse more passion than this?Yes, with mediocres like you, a handgun would be handy- a mediocre way to end a mediocre existence.
Perhaps you have missed it. Passion is used in the context of an occupation, which involves provision of goods and services in exchange for value, not engaging in an activity to amuse oneself. But if you and others of similar vein wishes to spend your lives aiming for mediocrity, then be my guest. Just try not to infest young minds with your generalisations.
I am sorry, what does this mean? The statement appears to be contradictory.
Mate, once you go out on your own, there is no turning back. I know many in similar situations, and the unanimous feedback is that they wishedthey had done it earlier, even though some of them has had many failures in starting up on their own.
 The million dollar question isnt it? Abstract and pure mathematics comes to mind. Wasn't useful then, getting more useful now. Again, comes down to judgment on how we allocate scarce resources.  The legal profession really needs to tighten up on admission (yes, despite howls of how we are trying to preserve a monopoly). We now have solicitors in court who can barely speak and write proper English. Imagine a carpenter who cannot operate a saw....
if one has no interest, passion and demonstrated ability in share investing, of course index funds is the logical way to go. Which probably missed the point- that if one has passion, interest and demonstrated ability, whether it be sports, investing or trade, it would be ridiculous to aim for mediocrity.Passion in used in the context of a profession (provision of services to others), not just something one likes to do to amuse oneself. Finding what one is passionate about...
 I have observed this over 2 decades, and it appears that university students and stock market participants have a common behavioural problem. They all flock to the hot sector and then get burned. In the days of pre-2000 IT boom, students enrolled in IT en masse. We are still feeling the oversupply nearly 1 decade later. Then the hot sector became investment banking. After 2008, you know what happened. In recent years, mining engineers are du jour. The pain is now coming....
So true. I was once involved in a start-up company which helps graduates "polish up" and present themselves better to employers in the marketplace. We tried to engage both the universities and businesses. Businesses are wailing that universities produce graduates who are next to useless in a workplace, and our program would have saved them lots of time and money involved in just basic training of new graduate employees. However, the universities made it clear to us that...
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