Sunday, February 26, 2006
Our Voyage having come to an end, I will take a short retrospect of the advantages and disadvantages, the pains and pleasures, of our circumnavigation of the world. If a person asked my advice, before undertaking a long voyage, my answer would depend upon his possessing a decided taste for some branch of knowledge, which could by this means be advanced. No doubt it is a high satisfaction to behold various countries and the many races of mankind, but the pleasures gained at the time do not counterbalance the evils. It is necessary to look forward to a harvest, however distant that may be, when some fruit will be reaped, some good effected.Well, I think for now the best course of action is to...
Many of the losses which must be experienced are obvious.... Other losses, although not at first felt, tell heavily after a period: these are the want of room, of seclusion, of rest; the jading feeling of constant hurry; the privation of small luxuries, the loss of domestic society and even of music and the other pleasures of imagination....
Fire up the semi-automated scripts!
Load up another huge batch of companies!
...and do it all again!
I expect to have about 1,800 more companies/stocks/ADRs/warrants to look at. Since I'm already fully invested, I don't see a need to expidite the process and hire child laborers again. Things will probably go more slowly. And I might decide to change direction in the middle of it all. Who knows where it all leads?
* I honestly chose the word "advance" and even used it twice before I went to fetch the Darwin quote which happened to use the same word.
UPDATE later that day: Well, things are progressing very well. I haven't been banned from any websites this time. Everything should be finished overnight. Here's a sample.
In the future, I'll be looking at warrants and probably other securities that aren't common stock. In every case, I'll be trying to estimate the value of that security using rational methods and then comparing it to the price.
I do take into consideration single common factors that can affect multiple securities that I own. For instance, I have two stocks where the value is entirely in China. If there was some revolution that caused a loss of property rights in China, it would affect both investments. But I tend to agree with what someone said (I don't recall who), that when it comes to property rights, they'd rather start a business in China than in Vermont.