Most people cannot strictly distinguish between consumption and investment.


If an investment is expensive, they comfort themselves with consumption; life is short, only thirty thousand days, so be a little kinder to yourself.
If consumption is expensive, they say it's an investment, with future value, and that they are making an early layout.
Consumption is just consumption, investment is just investment.
Consumption requires living within means, calculating cash flow robustness, and residual value should be considered zero;
Investment requires calculating IRR and total value multiples, and usage value should be considered zero.
Many goods are at the intersection of consumption and investment: real estate, watches, bags, art, trading cards.
Strictly distinguish which part of the pricing is the consumption value and which part is the investment value, and let the two logics be mutually separate.
A good investor must be someone who is absolutely honest with themselves.
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