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Politics : Ask Michael Burke
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To: Tommaso who wrote (94244)1/28/2002 4:01:34 PM
From: Knighty Tin  Read Replies (1) of 132070
 
T, I know that people think that way. I am a big believer in absolute, as opposed to relative, returns. But they have to be "real" absolute returns or they aren't worth a bowl of warm spit. In my business, management is 100% keyed on relative return while the clients almost never think that way. When somebody says "beat the market," I usually could care less. When they say "made money," it gets my attention.

One problem that the 90s bubble has created is the concept that it is easy to make money. It is tough to make money after inflation and taxes. Even retirement accounts eventually pay taxes, so there is no escape. In fact, my guess is that most folks will pay higher rates on their retirement accounts when they take them out than they would if they paid them today. We have to pay for Greenspan's exuberance somewhere down the line.
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