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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (90709)	4/22/2001 10:02:09 AM
From: Dennis O'Bell	Read Replies (1) \| Respond to of 132070

I had shares in my companies stock plan at $150 and continued to participate right down to $18... it rose to nearly $60 when we were bought out, but overall I would have been better off selling each year the day of exercise and putting the money in a Vanguard index fund. Of course I was too busy learning on the job and working to think about something so far off in the future. But I got to do interesting work I enjoyed, never screwed up anyone else's life and my health is still OK... at least that's something.

To: Thomas M. who wrote (90709)	4/22/2001 11:37:00 AM
From: Mike M2	Respond to of 132070

Thomas, Dr. Richebacher quotes from a book " Major Recessions" by British economist Christopher Dow ,formerly assistant secretary general of the OECD and executive director of the Bank of England. " The first stage of the US recession ( in 1930) seems inexplicable except as a swing in consumer and business ... The rapid expansion was bound to be checked at some time. There followed in 1930 a big fall in consumption, a very big fall in fixed investment, and a big fall in stocks. These abrupt falls in demand fully fit the hypothesis that there was a large downward shock to expectations of a sort that is likely to follow an excessive boom; they are indeed difficult to explain by any other hypothesis." The Richebacher Letter 1217 St. Paul St. Baltimore, MD 21202 Mike ho ho ho