Capital: Valuations and Market Caps 101

In 1999, I became a millionaire on paper by selling shares in a company that I had created for the express purpose of selling the shares. That ought to sound bizzare to you, and it is – it’s one of the weirdest parts of corporate capitalism. The entire thing feels like a scam, except that the money is very real, or it’s not, depending on what happens.

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Monday Meslier: 79 – A God Who Punishes The Faults Which He Could Have Prevented, Is A Fool, Who Adds Injustice To Foolishness


What would we say or a father who, we are assured, watches without relaxation over the welfare of his feeble and unforeseeing children, and who, however, would leave them at liberty to go astray in the midst of rocks, precipices, and waters; who would prevent them but rarely from following their disordered appetites; who would permit them to handle, without precaution, deadly arms, at the risk of wounding themselves severely?

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