Thank you, Scott. It is a fun, and enlightening video. One thing did come to mind while the 'time perspectives' were being discussed. Different people have different definitions of 'long term'. With some it is one year, which qualifies gains to be taxed at a lower rate. This is the tax code's definition. With others it is long term if the trade lasts past the trade settlement date. With others, it is long term if it is held over a weekend, or even overnight. Now, with the high frequency trading computers, some may consider it long term if the position is held over an hour. Would it be fair to say these HFT guys grew up playing computer games, are present oriented, and hedonistic by nature? Sheesh. Maybe that explains it!!
Thanks very much for this Scott. I always try to maintain a geologist's view of time, with millions and hundreds of millions of years providing the framework. The rocks in my yard are over a billion years old, yet hey help nourish the plants I will eat tonight and the wood I will burn to keep warm next winter. Life is about learning... I am never bored.
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