Re:Groupon is a straight-up Ponzi scheme
by joe_the_user on Friday June 03, 2011 @08:57PM
(#2618577)
Uh, in your parent post you essentially claim all investors are savvy.
In this post, you define non-savvy investors out of existence.
I'm not concerned with the true definition of an investor but all this redefining won't change the point that by looking hot and looking good one can get people to toss one capital.
That is a really excellent quote, one that needs to get used a whole lot more. I've had a lot of fun recently describing the difference to friends.
Re:Groupon is a straight-up Ponzi scheme
by imjustatechguy on Friday June 03, 2011 @06:25PM
(#2618210)
You are correct. I should have used a more general word.
"An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative."
-Ben Graham, from chapter 1 of The Intelligent Investor