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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (117119)	11/29/2008 3:56:47 PM
From: hdl	Read Replies (1) of 132070

i am very smart; i have worked very hard; i have been frugal.i have read much re stocks. so, instead of going to casinos where the house has an edge or playing poker - where someone may have more skill or cheat, i have invested about 100% and sometimes up to 115% of my assets in stocks - which i have read go up about 10%/year over the long term. i used to buy tax frees when they paid double digit interest, but figured, even now i could live another 30 years. so, i'd rather make 10%/year compounded, than less in bonds. so, i saved and invested a fortune. i lost a lot in the dotcom bust. i built it back up to my old fortune and more and now have lost half of that. if i were playing in a casino, i am probably the rare person who could set a max of what i was prepared to lose and lose less than 150% of that. and i would set a number of total cumulative losses of less than 1% of what i have lost in the stock market. i wouldn't bet with odds against me to get even.

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