Consumption has always been eroded by inflation. Think about what others want if you want to make a profit.
By refusing to take losses, you also turn away the opportunity for substantial profits.
1. Sell the future: People are more inclined to believe in what’s yet to come.
2. Sell the comparative advantage (what you’re comparing against, and why you’re better).
1. You get it now.
2. But you know other people haven't quite grasped it yet.
If you mistakenly assume everyone else sees it clearly too, you miss your chance to profit from their ignorance.
The key is accurately judging whether others have truly come to understand it as well.