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Politics : Ask Michael Burke
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To: BGR who wrote (96785)7/21/2002 11:03:21 AM
From: Knighty Tin  Read Replies (2) of 132070
 
BGR, I've never been a Bearx fan. Selling short is a dumb game. Buying puts is the way you do it. You never bet a lot to gain a little. You bet a little to gain a lot.

No, all stocks are not going to zero. All tech stocks eventually go to $4 has been my motto forever. True, all is an exaggeration, but "most" sounds like such a weasel term and is no fun at all. <g> All stocks will eventually go to fair value and then through it, on the upside and downside. We aren't on the upside.

Funny story. We had a wholesaler in from a fund group who told us how the Dow didn't move from 1968 until 1982, but you still made 5.6% anuually with buy and hold during that period. Of course, you had dividend yields in the 4-6% range. So, that example is totally irrelevant for today's market. And inflation and taxes ate your lunch on that crappy nominal return.

DCA works. Just like if you throw your money in a hole long enough, you eventually fill the hole and build a small molehill. Even the lousy yield on today's indices will save your nominal return over your 40 years. Some of us just set our sights a wee bit higher.

Casey Kasem always says, "Keep your feet on the ground and reach for the stars." We shouldn't criticize you because you only wish to reach for your nose. <g>
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