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URL:  https://boards.fool.com/quotover-most-conventional-measurement-periods-34276648.aspx

Subject:  Re: Bernstein: "What Is Wealth?" Date:  8/19/2019  6:34 PM
Author:  Rayvt Number:  94943 of 95802

"Over most conventional measurement periods, an increase in wealth simply reflects the willingness of other investors to pay a higher price for the assets that you bought somewhat earlier.

Yes, but their opinions are not formed in a vacuum. The reason that they are willing to pay a higher price is that (if) the shares you own of the company are worth more than the old price you paid. The base is the economic value of the company.
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