"Glass Bead Syndrome"

[burglar]

The minute someone dangles glass beads before my eyes,
my thinking becomes muddled.

I never knew that about myself before.

I’m going to call it “Glass Bead Syndrome”!

 

[burglar]

There was a serious reason for starting this thread.
I remember


Ohhh ...
Look ...
There's something shiny!

 

[Faramir]

"Glass Bead Syndrome" - Does that mean following a recommendation without doing your adequate research?

That recommendation is shiny? I fell for two of those.

 

[burglar]

"Glass Bead Syndrome" - Does that mean following a recommendation without doing your adequate research?

That recommendation is shiny? I fell for two of those.

Yes Faramir!
I made it up.

But you have hit on it!


Distracted by something less valuable than first appears.

John Batman bought Melbourne with trinkets:

http://gutenberg.net.au/ebooks13/1303761h.html#ch-16

for and in consideration of twenty pair of blankets, thirty knives, twelve tomahawks, ten looking-glasses, twelve pair of scissors, fifty handkerchiefs, twelve red shirts, four flannel jackets, four suits of clothes, and fifty pounds of flour, delivered to us by John Batman, residing in Van Diemen's Land, Esquire, but at present sojourning with us and our tribe, do, for ourselves, our heirs, and successors, give, grant enfeoff and confirm unto the said John Batman, his heirs and assigns, all that tract of country situate and being in the Bay of Port Phillip, known by the name of Indented Head, out called by us Geelong, extending across from Geelong harbour about due south for ten miles, more or less, to the head of Port Phillip, taking in the whole neck or tract of land containing about 100,000 acres, ...

 

[Faramir]

Paying too much?
Having the raw end of a dud deal?
Following and buying a stock at too high price just before it falls away?

I am still very much at risk of falling victim to Glass Bead Syndrome due to my inexperience and lack of knowledge. Add inadequate time to research. Add fear of missing out. Add being sucked in by the hype. What about temperament? Being impatience. Should I add more?

 

[Faramir]

Is it believing rumours because we do not know how to research or lack knowledge of that company?

Price Targets? When someone claims a price target? Help me? Don`t want to get off track?

 

[burglar]

Is it believing rumours because we do not know how to research or lack knowledge of that company?

Price Targets? When someone claims a price target? Help me? Don`t want to get off track?

It's your track, your roller coaster ride!

My first thread! It was to be my legacy, but methinks something went wrong.
You'll find something in it (perhaps only amusement).

My Worst Pick Ever:
https://www.aussiestockforums.com/forums/showthread.php?t=21130

 

[Value Collector]

Distracted by something less valuable than first appears.

Or you can say you "you were sold a pup"

An old trick dating back a few centuries, was to show a buyer a healthy young piglet, once they make payment you put a puppy in a sack and hand it to them, They then walk away thinking they have a valuable young piglet in the sack, But alas, they were "sold a pup".

Similar traps happen in the investment world.

 

[Faramir]

Hi Burglar
I think I need a simple explanation of "Glass Bead Syndrome". Seeing value in something that isn't there??? Is that a simple explanation.
Since I am only in my 5th month of buying shares, I can not say whether or not I made a mistake. My first purchase, I caught a falling knife but that share has recovered. Another one I was expecting good profit results but the market was disappointed with the annual report yesterday. (Falling from $0.67 to $0.61, 52 week low - I brought at $0.695). I won't call it a mistake yet because I still believe this stock wil shine through in 2-3 years time.

Advertising convince people to buy products - very often, even asking them to pay high prices. Stocks are the same. There are those can write very well or they have charisma on tv. They are able to promote a stock or two - infecting the audience with "Glass Bead Syndome" We see value because someone has altered our view. Thus we see value based on what they are saying. We, (well definitely me) may not have the skills, experience or knowledge to make our own decisions - so anything can come along make it for us?

Please add to the above - I am open for any comments either supporting, opposing or side tracking. Thank you.

 

[tinhat]

One of my favourite books, which I read almost thirty years ago, is "The Glass Bead Game" by Hermann Hesse.

 

[burglar]

Hi Burglar
I think I need a simple explanation of "Glass Bead Syndrome". Seeing value in something that isn't there??? Is that a simple explanation.
Since I am only in my 5th month of buying shares, I can not say whether or not I made a mistake. My first purchase, I caught a falling knife but that share has recovered. Another one I was expecting good profit results but the market was disappointed with the annual report yesterday. (Falling from $0.67 to $0.61, 52 week low - I brought at $0.695). I won't call it a mistake yet because I still believe this stock wil shine through in 2-3 years time.

Advertising convince people to buy products - very often, even asking them to pay high prices. Stocks are the same. There are those can write very well or they have charisma on tv. They are able to promote a stock or two - infecting the audience with "Glass Bead Syndome" We see value because someone has altered our view. Thus we see value based on what they are saying. We, (well definitely me) may not have the skills, experience or knowledge to make our own decisions - so anything can come along make it for us?

Please add to the above - I am open for any comments either supporting, opposing or side tracking. Thank you.

Aboriginals sold Melbourne to John Batman for trinkets
They did not have a valuation system in place.

The only thing they had was intuition.
That is the starting point for you and me.

Eventually, we learn to recognise trinkets for what they are.


https://www.aussiestockforums.com/forums/showthread.php?t=25573&p=733940#post733940