At a recent conference in south Florida economist Ed Yardeni opined: “America is trying to figure out how to provide free everything for its citizens, while China is trying to figure out how to get its next million barrels of oil!” Adding to that was Jeff Saut, another 40-year market veteran: “Indeed, while America is playing Texas Hold’em (aka, play one hand at a time), the Chinese are playing the game GO. In the strategic game of GO, a player sacrifices numerous “pieces” in the short-run to “win” in the long-run.” GO is a 2,500-year-old game where one of the most important skills required for strong play is the ability to read ahead. Some claimed that GO is the most complex game in the world due to its vast number of variations. Plays made early in the game can shape the nature of conflict a hundred moves later. GO sounds similar to investing to me.The link to original article is here.
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