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Technology Stocks : Zitel-ZITL What's Happening

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To: NYBellBoy who wrote (13863)	1/26/1998 10:51:00 PM
From: David A. Smallberg	Read Replies (2) of 18263

> Why do doctors think they are astute investors? With no disrespect intended to any particular doctor, here's how my father explained the origin of the stereotype of doctors as bad investors: Back before many doctor visits were paid by insurance, many doctors were paid in cash. Some succumbed to the temptation of not reporting all of their income to the IRS. Rather than have large unreported sums accumulating in bank accounts, they held onto the cash. Eventually, they were bothered by all that money sitting around not earning interest. Investing in a high-return venture would be a way to put it to good use and have a handsome profit after taxes, which one would then be willing to pay. Of course, for many, keeping current medically didn't leave much time for learning that with high returns come high risks. Furthermore, doctors are generally more intelligent than the average person, given greater respect, and used to being correct about many things. Some succumbed to the fallacy that therefore their investment judgments were also likely to be correct.

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