Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 301.11

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Jan 9 9:30 AM EST

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To: TimF who wrote (42668)	2/26/2001 1:07:47 PM
From: mitch-c	Read Replies (1) of 70976

You and many others. The chapter heading for that particular lesson is "The Difference between Investment and Speculation". With a section on the dangers of overuse of margin buying. Folks, that is PRECISELY (and I mean verbatim) the conversation that my grandfather had with me over fifteen years ago as I started an IRA. I rank it as THE single most valuable lesson I have ever learned about capital markets. He had experienced the 1929 crash and the subsequent decade of economic malaise we call the Great Depression. In a nutshell, he blamed uninformed speculators using highly leveraged margin accounts for the collapse. His strongest emphasis was never to borrow money to invest. I have not - and never will. Best of luck to those who do. - Mitch

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