I would like to give a definition of “investment”.
It is to make cash for a company in future.
If we don’t increase any cash, it must be extravagance.
If a company buys an excellent machine for effective producing, we can call it investment.
But if a company spends money on a too luxurious building for its own office, we can’t call it investment.
It’s a kind of vanity.
I know many cases that bankruptcy came within three years after having exceeded luxurious office buildings.
