Comment, question or quotation of the day
21-07-2021 : Quote of the day
But, of course, our aim is to be profitable: not to have this aim is to deprive ourselves of freedom. - Vincent Montagne, French publisher
20-07-2021 : Question from a student
Can we say that the sale of a share bought at a lower price than the current price does not enrich the shareholder? But I find this very paradoxical in the end: if dividends and capital gains do not enrich the shareholders, what is the point of investing?
For a financier, it is not the sale that makes the capital gain, it is the progression of the value that makes the capital gain. For example, Bernard Arnault never sold a share of LVMH, and hence never made a capital gain, yet he became the richest man in Europe. Selling a share does not make you richer, it simply transforms part of your portfolio into cash.
To complete the picture, see the Vernimmen Newsletter No. 128 of March 2020, which is available on the Vernimmen website, and its article: If the dividend does not remunerate equity, what does?
Have a nice day
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The Vernimmen.com Letter
Number 138 of July 2021
News : New listing methods
Statistics : Dividends and share buybacks on both sides of the Atlantic
Research : The internal capital markets: an alternative to bank credit in times of crisis
Q&A : A few questions and short answers
COMMENTS : Comments posted on Facebook