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To: yard_man who wrote (25573)	10/6/2000 11:48:15 PM
From: LLCF	Respond to of 436258

< It will be interesting to see what comes out of the aftermath ... > THAT I am not looking foreward to... buy it certainly will. DAK

To: yard_man who wrote (25573)	10/7/2000 8:55:33 AM
From: Earlie	Respond to of 436258

Tip: Here are a few of this (and probably most of the preceding) mania's one liners that rile my passions. "I'm in it for the long haul" I detest this stupid statement with a passion, but just try to explain that the reason people have been brain-washed with this statement is that the pros need to ensure that there is a vast crowd out there to absorb their paper when the appropriate "distribution" point arrives. "So what do I do with my money if I pull it out of the market?" (usually stated with either incredulity or cold condescension). Surprisingly, when one suggests that doing this fulfills the first rule of investing, "Don't lose you capital", a blank stare results. "But money markets only provide a return of a few percent!" (Glazed eyes is the response when one refers to the possibility of stock market crashes and what this does to savings, the economy in general, etc.) "I don't have to worry about stocks, I am only in mutual funds." I no longer bash my fist against my forehead over this one, as this doesn't endear oneself to the other party, but it is surprising to me just how difficult it is to explain to many that their mutual fund has most of their money in stocks and that the value of their investment will rise and fall with the stock market. "What's shorting"? I don't even try any more "Why worry so much, the government won't let a crash occur. There are circuit breakers (or other "rules") now". Don't even try to break the conviction on this topic as it is more than ingrained. "Even if my broker did go broke, my money is guaranteed by the government". Speechless in Seattle, Toronto or wherever on this one. "I haven't got a choice. I have to be in the market or I won't be able to retire when I reach 44 (or whatever the age will be three years from now)". Don't bother to suggest the possibility that they might end up working until they are 85 if a crash occurs and wipes out their nest egg. I could go on and on. (g) As most on this thread know, few want to even contemplate an end to the party, even as the windows get smashed and the tear gas starts to spread through the house. Best, Earlie