The Advantage of the Long-lived Species

"Do you think the price will hold?" Nidhogg, the Destruction Black Dragon, asked curiously.

"Hard to say."

Viscount Rost fell silent for a moment, then shook his head.

"Hm? Why?"

"People's cash reserves aren't stable right now, and operating a rail transit system requires long-term investment. I'm not sure how long their patience will last."

Viscount Rost spoke frankly. "There's another issue, too: expectations."

"You Dragons have been managing the financial markets for a while now. You must have realized that a stock's market value depends mainly on expectations, right?"

"Of course I know that. What I want to know is whether people have high hopes for this Ultra-High-Speed Rail Transit System right now."

Nidhogg cut in the moment Viscount Rost paused, asking his question before the viscount could continue.

"They do, and we've built up a great deal of anticipation."

Viscount Rost did not deny it. "But what about during construction? There are simply too many variables."

"So I can't guarantee anything."

"If I were you, I'd prepare for both possibilities. First, I'd sell a large batch of futures near today's close to make sure I took no losses on this venture."

"Then I'd leave the remaining funds alone and wait for the Ultra-High-Speed Rail Transit System to be completed. By then, the stock price would certainly be far higher than it is now."

"Then why wouldn't we just hold on to it and wait?" Nidhogg asked, at a loss for words.

If the stock was bound to rise, why sell it now?

"Because that could take years." Viscount Rost paused before answering.

"It's only a few years. That's no different from a nap. It's free money!"

"You have a point!" Viscount Rost had no answer to that.

Here, the advantage of the long-lived species was plain to see.