DAK, now you're being silly.
<It doesn't matter when they start. >
<OK, we'll start at DOW 150,000... I know you can buy it a tad cheaper from Mr. Market, but you won't mind since price matters not. >
The point of saying it doesn't matter where it starts is that by buying regularly, no matter where the market is, the buyer uses the long-run wisdom of the hordes of buyers and sellers. Even though fear and greed or neural net programmes might go excessively one way or the other for a year or three, over a period of twenty years, they smooth out into a normal rate of return.
It's a way of using the knowledge of the market without having to figure it out oneself. It means the rewards of being first with the good ideas are foregone, so it's only the average return which is earned, but that's about all one could expect for zero learning, thinking etc.
Of course it matters to buy at 150,000 because that is not a market price. That suggestion is ignoring the principle behind the idea.
I prefer to come up with great ideas like Globalstar and place big bets at the bottom of the market [which, sometimes, unfortunately, turns out to be the last peak before the final collapse]. Or, QUALCOMM!!
Mqurice |
