Why Time Horizon Works - Morgan Housel
I admire Morgan for presenting varying view on the world and on things that we take for granted . So it is tough to write a critic on his writings. I hope my attempt appeals to readers .. Read the original article here .. https://www.collaborativefund.com/blog/why-time-horizon-works "Time Horizon work" thesis builds on Ben Graham often abused quote - " In the short run the market is a voting machine but in the long run it’s a weighing machine " Why this quote is abused - What is voting deciding - Whether you are going to be weigh more or less ten year down the line What is weighing machine deciding : What is your current weight . It cannot tell you what your weight is going to be ten years down the line .. But weighing machine plays an important role by giving you base data and history to decide your voting. So is Market a voting machine or a weighing machine @ any point of time ?? .. Morgan has points Market is driven by two key things 1) Earn...