one think for sure about vpg, page-30

aaacin,

I had better luck with the fishing, a jewfish and a kilo bream. Lovely weather,no wind,high tide on dusk and the moon shining over the water. Even a bad day's fishing is better than a good day at the office so when there are some fish as well then it's great.

I came back to see that we hadn't gone back to 9c but we are still around the trend line that I expect. The stock market is like the fishing, don't expect too much and you dont have so much disappointment.

There are two sides to the stock market. The first is that it is a source of funds for commerce and industry who use those funds for productivity.

The second side and could be called the dark side is the trading. Trading is there so that an investor has a way of transfering his investment in productivity to another person. However it is maimly used these days as an avenue by the greedy to extract money from the unwary. It has little relationship to productivity. This means that for someone to gain then someone must lose. Nobody likes to lose so they take their bat and go home. That is what we saw today. They'll be back again. Meanwhile the true investor will sit and wait for a well earned dividend and a respectable SP based on NTA.

And that's one thing (or think ?) for sure about VPG