re: #21 lawhawk

I don’t think one year should actually qualify as a long-term investment. I’m not using short-term investment as defined by taxes, but defined by its effect on the economy. The privilege given to short-term gains— say, buying a company getting it to take on huge amounts of debt, paying out massive dividends to yourself and to the management team you own and paying back the purchase price, and then selling the remaining debt-laden shell, over the course of a few years— distorts the financial markets and makes that a sweet spot— anything longer than a year, but as close to as can be is the most profitable way to do business, all other things being equal.

This is one of the reasons we’ve got so many short-term bad decisions being made about labor and re-investment of capital. It’s getting worse, too.