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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (6512)3/31/1999 9:36:00 PM
From: Mike 2.0  Read Replies (1) of 78464
 
All, I saw cover story in today's USA Today (you know, that paper that hotel guests step over in the morning :-) -- the headline is:

HAVE YOU MISSED THE MARKET BOOM? MILLIONS LOSING BILLIONS AS MONEY LANGUISHES IN BANKS.

Now at first I figured they'd make the valid point that bank passbook/money mkt rates still are unacceptably behind money mkt mutual funds...nope. The article says a person they were profiling who had some $ in bank savings @ 1-3% interest "easily could have made twice as much on that money. If he had invested it in a S&P500 stock index mutual fund..."

Amazing. So now the S&P is the place for the rent money huh? Bank savings? Aw that's for chumps. In fairness to USA Today author she finally later suggests switching from bank savings to money mkt mutuals. Fine. But to compare a passbook savings account to stocks for your "seed corn" money is IMO an unconscionable comparison and the shape of things to come...down.
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