On Fri, Feb 07, 2003 at 08:16:31PM -0800, Paul Johnson wrote:
> On Fri, Feb 07, 2003 at 05:46:12PM -0600, Gary Turner wrote:
> > Where the hell do you think the money came from? If an investor can't
> > expect a return, why should he put himself at risk?
>
> It's basically gambling picking a stock that'll last long enough and
> perform well enough to create dividends. Furthermore, the payoff
> frequently is drastically disproportionately high relative to the
> individual effort put in to creating that wealth: I see it basically
> as tricking some stupid asshole into giving you a $20 for a $5.
> That's not working, that's being a crook.
The market is full of staid but solid performers which return a few
percentage points (most) every year, which means overall you're doing
better than putting your money in a savings account or even a money
market account. I must be missing your point, or my view of the facts
is in dissonance with yours.
The big problem I see with the stock market is the same problem I see
with the computer industry; it's full of idiots. Anyone who buys a
single stock because someone told them to shouldn't be buying stock at
all; they should be investing in mutual funds or index funds.
Of course, if you just tax them to the hilt, they won't have to worry
about investing at all.
--
Nathan Norman - Incanus Networking mailto:nnorman@incanus.net
We are all agreed that your theory is crazy. The question which
divides us is whether it is crazy enough to have a chance of
being correct. My own feeling is that it is not crazy enough.
-- Niels Bohr
Attachment:
pgpfXRDm5_9_I.pgp
Description: PGP signature