In the IPOmania in mid-1990s, many, blinded by their greed to make quick money, did not bother what the actual business of the firm would be.
When investing turns to speculation, which in turn becomes gambling, thinking about business is not required. While investing in a business, one must take a long term view – businesses do not make money overnight. It is the compounding that makes all the difference.
#RidingTheRollerCoaster – 54