Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: gc who wrote (58792)	1/2/2000 1:16:00 PM
From: Jim Willie CB	Read Replies (4) \| Respond to of 152472

on "just on paper" millionaires having this annoying discussion with family and friends more than I wish lately... they reason that if I dont sell all, then I am not truly a cardcarrying quillionaire... got news for them... answer is "who is richest man in America?"... yes the twerp Bill Gates at $120B... his is about 90% on paper... "who is second richest?" ... Warren Buffoon (sorry) Buffett, despite never understanding technology... his is about 90% on paper also lets suppose in a safe moment in Jan99 you had played it safe and sold all stock and put it in secure instruments like TBond... well, shucks, 1999 would have seen your horde drop 12% in value if you horde dollar bills in cash form, in a wall safe, under your pillow, inside your mattress, or in a strong box buried in your backyard, then you have invested in US Govt stock, which pays a meagre dividend... this too is just paper, but shitty paper... the worst form of paper is toilet paper, which becomes routinely soiled and flushed down into septic systems or town treatment centers... it thus loses value completely... bad investment, not prudent the US Govt routinely debases its paper stock, which the masses have come to call currency, denominated in USDollars... the US govt is like a huge conglomerate, with tens of thousands on non-wholly owned (thank God) subsidiaries selling stock of their own... when the parent company's stock (US$) declines, our stocks tend to decline also... seen in July/August my mother does not get it, bless her heart she is 84 and believes QCOM wealth is just paper I told her with that paper I intend to pay off my Boston home mortgage, buy a Clearwater condo, buy a little 3-yr old Sadie (Mercedes), and make a modest addition to my ranch house any by the way, if you own your own house, then you might be asset rich and cash poor... you can go thru the rigamarole of setting up an equity line of credit so as to tap into that brick&mortar horde, but what a pain... again, is that wealth? ... sure, but I trust my horde in QCOM for years to come I reminded her that my father's TIA/CREF retirment pension is based upon the same paper, maybe based 75% in stocks, much of the rest in commercial property dont even argue with Depression Era thinking it is a nearly total waste of time / Jim