Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who started this subject	7/10/2002 5:16:59 PM
From: inchingup	Read Replies (1) of 36161

OT: Another story: Today I walked into my bank to take care of some business. It was around noon and when I left the house the Dow was down by some 125 or so points. My usual teller greeted me with a cheery "good afternoon". I said "you obviously haven't been watching the stock market". She said "I don't worry about it I have been purchasing stock in my bank for over a year now and it didn't go down as bad as many other stocks have". I gave her one of those "Duh" looks and asked her how she came about to purchase the stock. Her response was "I bought it because I didn't have to pay any fees. They give it to us for free". ("Free" meaning no broker charges. Best reason I can think of for buying, duh!) As the conversation continued I stated that my business banker (from the same bank) attempted to coerce me into buying their stock years ago and that this and all his other tips (cranberries and some other junk) were well underwater since 1997. She said she really liked the stock as it recently had a split and now she owns twice as many shares. Duh again! I explained in short terms why companies have splits and that the split that her company had didn't do squat for its price and that with the markets crashing it MIGHT take her years to regain her losses. Her response was "I am 34 years old and can wait it out". Followed by "if everything goes as planned I expect to retire with the money I make in the market by the time I am 44". Duh!

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