Many people in our society invest in bonds. Perhaps you, reading this article, have invested in bonds at least once and are still investing now. Bank deposits are a form of bonds, just not labeled as ‘bonds.’ When you deposit your money in a bank, the money isn’t considered bank money. Interest is paid because the money isn’t withdrawn immediately. When you withdraw your deposited money, the bank must return the principal plus interest. This is essentially a bond. However, the only reason this differs from bonds as an investment asset is that these bank deposits are not traded on the market. If bank deposits were traded publicly, the interest rate would be evaluated in comparison with other deposits, even if the principal remains unchanged. Valuation reflects opportunity cost. This is the transaction value of bonds. When goods or assets are traded in the market, their value is re-evaluated. The core of value is comparison, and the tool for valuation is opportunity cost. That’s why CEOs...
Approximately 85% to 90% of the global population is right-handed, while the remainder is left-handed, with very few being ambidextrous. Throughout history, horses have served as a primary mode of transportation for humans. Typically, right-handed individuals mount a horse from the left side, relying on their right hand to grasp the saddle for support. If a person approaches the horse from the edge of a busy road on the left, this naturally orients the horse’s movement toward the left side of the road. Consequently, human anatomical tendencies have influenced the direction of road traffic. This practice led to the establishment of the left-hand shipping rule for vehicles, ships, planes, and even space shuttles. Thus, our civilization on Earth represents a legacy shaped by human anatomical traits. - Joseph’s “just my thoughts”