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Friday, January 06, 2006

Growth Like a Bull

Growth has to happen for a business to survive. But what kind of growth? Bullish?

According to the Wikipedia article a "bull market tends to be associated with increasing investor confidence, motivating investors to buy in anticipation of further capital gains." That's good.

But, the article also says "the description refers to the way that the animal attacks. Bull attacks (with its horns) from bottom up (benefiting from buying low, selling high)." Growth in this manner (with fierce attacking, prodding, and forcing forward) can be devastating and deadly.

Do we want bullish growth? Yes, as long as the recipient of our attack is the market and not our people.

Comments:
I think the Wikipedia definition is poor. If the definition of a bull market is, "...motivating investors to buy in anticipation of further capital gains..." then what's the difference between a bull market and an ordinary market? Surely any share purchase is made on the basis of further capital gains? Or is it implying that there are only bull and bear markets? Seems a little too black and white for me: I associate a bull market with higher than usual confidence, bordering on over-confidence.
 
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