You might have gone into last year with a touch of crypto FOMO, a feeling that you must read “Bitcoin Billionaires” and so on. By now, you probably don’t.
What is a share price? It sounds like a stupid question – the answer to which is “the amount of money the market is prepared to pay for a share in a company on any one day”.
Those that have only the latter two qualities are not of much interest to real long-term investors: Conspiracy value will all too often end up worthless and utility value disappears once used. The first is then the most attractive – which is why one buys shares. A share offers income value as it entitles you to a tiny fraction of the profits the company makes and to the same tiny fraction of the price should the company be acquired.
If next year is going to represent some return to common sense , then one of the best Christmas presents you might have given yourself this year is Angus’ anthology of his own writings –.“n It is gorgeously written, quite funny and jammed with pure investing common sense. As a bonus, you will find other books with utility value suggested along the way.
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