Greed

[gordondaviesmoustache]

Theres a difference between greed and desire or the wish for self improvement or whatever you want to call it. Humans are hard wired to be progressive. Greed is conditioned. Greed didnt create central heating...the desire to improve living conditions did.

Yeah I'm sure the guy who invented central heating was thinking about his fellow man and not his house in the country every time he dragged himself out of his (cold) bed when he was developing his idea.
The difference is I don't see anything wrong with that.

Greed is conditioned? That must be why the Vikings and Romans were such gentle folk.

In the 13th century, the Cistercian monks revived central heating in Christian Europe using river diversions combined with indoor wood-fired furnaces. The well-preserved Royal Monastery of Our Lady of the Wheel (founded 1202) on the Ebro River in the Aragon region of Spain provides an excellent example of such an application.
wiki.

Those fucking greedy monks. Henry VIII had them sussed.

As a footnote, you should get out more.

 

[stonerblue]

Yeah I'm sure the guy who invented central heating was thinking about his fellow man and not his house in the country every time he dragged himself out of his (cold) bed when he was developing his idea.
The difference is I don't see anything wrong with that.

Greed is conditioned? That must be why the Vikings and Romans were such gentle folk.

In the 13th century, the Cistercian monks revived central heating in Christian Europe using river diversions combined with indoor wood-fired furnaces. The well-preserved Royal Monastery of Our Lady of the Wheel (founded 1202) on the Ebro River in the Aragon region of Spain provides an excellent example of such an application.
wiki.

Those fucking greedy monks. Henry VIII had them sussed.

As a footnote, you should get out more.

I'm out now thanks.

 

[gordondaviesmoustache]

In the 13th century, the Cistercian monks revived central heating in Christian Europe using river diversions combined with indoor wood-fired furnaces. The well-preserved Royal Monastery of Our Lady of the Wheel (founded 1202) on the Ebro River in the Aragon region of Spain provides an excellent example of such an application.
wiki.

Those fucking greedy monks. Henry VIII had them sussed.

As a footnote, you should get out more.

I'm out now thanks.

Glad my advice was useful.

 

[bluetoo]

Im pretty sure also that not everyone who invents something is thinking solely about how rich it will make them. Do you believe that most people who have invented things start off with the idea first or do they say....I want to get rich...what can I invent? And yes...the levels of greed that I alluded to in my OP are most certainly conditioned....if it wasnt there would be no need for ad campaigns, specifically those which con people into believing they have an automatic right to obtain and posess goods and or services which are outside their earning capacity.To dismiss greed as though it were unavoidable is missing the point and a way of avoiding actually doing something about it.

You are so far off it's unbelievable.

in your mind possibly

 

[zangatangring]

Im pretty sure also that not everyone who invents something is thinking solely about how rich it will make them. Do you believe that most people who have invented things start off with the idea first or do they say....I want to get rich...what can I invent? And yes...the levels of greed that I alluded to in my OP are most certainly conditioned....if it wasnt there would be no need for ad campaigns, specifically those which con people into believing they have an automatic right to obtain and posess goods and or services which are outside their earning capacity.To dismiss greed as though it were unavoidable is missing the point and a way of avoiding actually doing something about it.

You are so far off it's unbelievable.

in your mind possibly

If you don't mind me asking, How old are you?.

 

[SWP's back]

I'd respectfully disagree with this but then if we all agreed we wouldn't have a market!!!

-- Fri Aug 12, 2011 5:44 pm --



Hush now, that bit is a secret!!!

Based on? Certainly not P/E ratio which shows the Market massively underpriced.

Plus I'm sure you know more than Warren Buffet of all people. Look him up.

Based on, what I consider, to be the flawed logic that even over valued stock are better than cash (i assume you hear the same arguments) as they offer at least some sort of dividend return (versus nothing on cash). Although I think recent volatility may well have shaken some back to cash, lest we forget the market is a great price discoverer.

P/e ratios, what sector(s) are you referring to? P/e on it's own would suggest some sectors are undervalued but let's not discount that high inflation and low p/e ratios are nothing new.

That warren buffet comment was pretty poor, as I said I disagree with you I didn't say you were wrong, would ask you show me the same professional courtesy going forward.

I'm sorry but none of that makes any sense. You don't believe the market consensus (Warren Buffet included) that companies are hugely undervalued at present, shown by the market's P/E ratio for one (vs historic P/E ratios) and have great room for growth over the medium to long term based on your view that " over valued stock are better than cash" is flawed logic.

Well ermmm. No I have never heard anyone suggest that over valued stock IS better than cash. The very thought would be idiotic. I have never come across anyone that would use an idiotic fallacy such as that as a reason to invest in stock when you could always garner a similar dividend investing in bonds/gilts and have a (more or less) guaranteed capital value of your investment in the meantime. So if that is what you are being told then I would agree with you (that cash is better than over priced stock) but that in itself has absolutely nothing to do with the medium to long term prospects of the markets. Your comment on high inflation is also incorrect as even 5% is historically not classed as "high". You may be mixing up "high" with "above the rate of deposit based accounts".

My Warren Buffet comment was not wrong, it was fair comment. He is on record as living by the mantra of "be fearful when others are greedy, but be greedy when others are fearful."

As for showing you professional curtesy. No. I know nothing about you, your business, your agenda or your qualifications. I know mine, I know the records of the fund managers I have dialogue with and those of our investment committee and I would back myself to n-th degree on this topic. The present climate can indeed be a worrying one for a lay investor not receiving regular information, and comments such as yours serve no purpose other than to increase a feeling of unease, especially when backed by less than the water tight logic you use above and I do not find your comments helpful, especially when you haven't back them up with a worthwhile argument.

 

[pauldominic]

No.

inspiring

Indeed.

Its one of the seven deadly sins.

-- Sun Aug 14, 2011 7:11 pm --

Those fucking greedy monks. Henry VIII had them sussed.

As a footnote, you should get out more.

I'm out now thanks.

Glad my advice was useful.

The monks invented capitalism ;)<br /><br />-- Sun Aug 14, 2011 7:13 pm --<br /><br />If Greed is one, what are the other six?

 

[bluetoo]

You are so far off it's unbelievable.

in your mind possibly

If you don't mind me asking, How old are you?.

What possible difference could that bring to the debate? If, as I suspect, youre referring to my seemingly glib and dismissive answer, I was merely responding like for like.

 

[zangatangring]

in your mind possibly

If you don't mind me asking, How old are you?.

What possible difference could that bring to the debate?

Sorry if it's too intrusive, I just feel I need to know what I'm engaging with.

 

[bluetoo]

If you don't mind me asking, How old are you?.

What possible difference could that bring to the debate?

Sorry if it's too intrusive, I just feel I need to know what I'm engaging with.

I'll give you the benefit of the doubt and assume you meant to say who.

Its not too intrusive at all...I just believe it to be irrelevant. You wont offend my sensitivities...honest.