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To: Monty Lenard who wrote (93790)	4/13/2001 9:45:32 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

Monty the indexes are nothing more than the equivalent of an equity fund. In this respect index investing is far superior than diversified mutual fund investing or any other LTBH. Haim

To: Monty Lenard who wrote (93790)	4/13/2001 11:23:50 AM
From: GraceZ	Read Replies (2) \| Respond to of 436258

The indices have gone up but only by changing the components of the indices on a regular basis to insure that they can show our children and grand children the beautiful chart that says "See if you had bought here you would have been making this much money". So they keep the biggest lie on wallstreet alive "buy and hold". The truth is that most companies fail over time or at the very least fail to grow significantly over time. Do you think the indexes would be a more honest representation of the market if they still contained those companies that no longer existed? Think about what you are implying. You are implying that the indexes are some sort of propaganda tool to sell stock rather than an effort to accurately represent in a set of numbers what is occurring in the present day market. One of the reasons investing in an index related vehicle has been successful over the long run is because they are self correcting. The companies that fail are removed and the companies that gain importance are added as we go along. If this wasn't true we'd still have things like Consolidated Buggy Whip in the DOW.