PINL:HERTF - Post by User
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PositionTradeon Nov 19, 2016 1:03am
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Post# 25484163
RE:RE:RE:Thank you thank you thank you
RE:RE:RE:Thank you thank you thank youForgive me to be too frank - I used similar thinking model (first degree thinking - see note.) as you guys in the last two decades, but now I found that was too naive to understand venture investment. JMHO
[note] About levels of thinking, refer to : Keynesian beauty contest in wiki.
That said: "It is not a case of choosing those [faces] that, to the best of one's judgment, are really the prettiest, nor even those that average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth and higher degrees." (Keynes, General Theory of Employment, Interest and Money, 1936)."
And you may want to read more about game theory. In this case, I prefer use fourth degree thinking: what the major stakeholders and big boys "anticipating what average opinion expects the average opinion" will be.