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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (96307)	6/26/2002 11:03:34 PM
From: BGR	Read Replies (2) of 132070

KT, Given that hundreds of thousands of mutual funds have operated in that same time period, any objective scientist would consider 2 examples to be simply a statistical anomaly, and certainly not the norm. As for nominal wealth, if on a relative amortized basis indexing beats active trading 99.99% of the time (as you seem to have conceded already), your nominal wealth after 4 decades of active trading must be lower than that from indexing, no? So much for fortunes made from active trading (unless one is a broker, as spreads and commissions surely help). :-) As for stocks being cheap vs. pricey, its a wash in the long run. I would rather focus on my job instead. Just as you are doing as well. :-) :-) -BGR.

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