"[Short-term traders] tend to do for the reputation of capitalism what the court of Louis XIV did for the reputation of the monarchy."
A simpler fix would be to extend the holding period for long term capital gains from one to five years.
Very informative and classic Charlie Munger. Capitalism is, as Churchill opined about democracy, the worst system except for all the others.
A simpler fix would be to extend the holding period for long term capital gains from one to five years.
Very informative and classic Charlie Munger. Capitalism is, as Churchill opined about democracy, the worst system except for all the others.