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Pastimes : Let's Talk About Our Feelings!!!

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To: Ilaine who wrote (35649)	4/22/1999 4:41:00 PM
From: Chuzzlewit	Read Replies (3) of 108807

Blue, today is a day for exultation. My portfolio was up 8% today. The problem with your post is one ought not to invest for safety. If you want safety you put your money in T-bills. The equity markets are about taking risk, and economics teaches that you cannot achieve higher rates of return without assuming risk. In the thirty or so years that I have been in the market I have experienced a pre-tax rate of return of around 22%. And that spanned some really terrible years. T-bonds are truly awful because you do incur risk. You incur the risk of inflation, and to my way of thinking there is insufficient yield to compensate for that fear. Imagine if you had bought 30 year T-bonds in the mid 60s! Historically the risk-free rate of return is between 2-3% (adjusted for inflation). The rate of return for the market as a whole is between 9-11%. So ye pays yer money and ye takes yer cherce. During the past three years I have tripled my portfolio because i am willing to take on risk. And I am willing to have the NETAs and PSFTs in my portfolio for the thrill of having the AOLs and DELLs in there as well. TTFN, CTC

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