Paul, you breaking bad (lol) on the semantics with me? I'll have to agree on the point though. Don't think we are talking "educated" ( however broadly defined ) investors here.
"market participant" or "market player" - maybe average Joe who really has no idea what he is doing but is
offered a promise of tax deduction, tax deferral, growth of capital, etc. Many places you have to opt out now,
or you become a player/participant/investor by default.
Thinking of my buddy I invest for, if I asked him if he has any other "investments", he will point to his 401k. Our
old company 401k has six options, value, growth, balanced, S+P index, stable value, and money market. I
know for a fact that he filled his form out putting 1/6th in each. Later when the market went south, he changed all contributions to stable value.
It is well over 50% of his 401k now. I am sure he sees himself as an investor.
I'm sure others with no more knowledge also see themselves as investors, and moving their money
around, even though it costs them in the end, may confirm their feelings. |
