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To: kvkkc1 who wrote (53357)	5/23/2001 1:41:02 PM
From: Charles Tutt	Respond to of 77400

FWIW, many of the people we encounter seemed totally oblivious to the stock market's performance over the past year, presumably because they don't have a stake in it. I suspect many of them live "hand to mouth." But as you suggest, many drive cars a lot nicer than mine. Charles Tutt (TM)

To: kvkkc1 who wrote (53357)	5/23/2001 1:51:11 PM
From: Stock Farmer	Respond to of 77400

kvkkc1: Who said anything about takign ALL their money out of the equity market? Or even ANY? And note that the actions by those who don't participate in the stock market are unlikely to effect its direction, except in so far as their altered or curtailed spending habits alter the business models of the underlying businesses. You can leave 100% of your money in the equity market and still derive income. It's just difficult to do with stocks that don't produce a meaningful dividend. For example, among other things I hold convertable (and variously otherable) preferred shares in a number of companies. They pay a healthy dividend and are also an option (various covenants, of course) to purchase (or convert) into common shares at a formula price, at a time in the future etc. etc. etc. These are a little bit more complicated than their common cousins... Slightly less liquid than common shares too, so one wouldn't hold them to 'trade in and out', and you want to buy them in fairly large lots. But they bridge the best of both worlds quite nicely. I don't suggest for a minute that folks are going to suddenly become this sophisticated. I just use this as an illustration of what's already out there. I bet we see a whole new breed of investment vehicles pop up over the next 10 years. Places to park your money, earn some cash and not be a bank account. Tailor made for retirees. As to all of the folks that you know and none retiring, well, that would have to fall into the category of factual data... But unless you consider yourself average, it is possible your associates are a skewed and possibly unrepresentative cross section of participants in the market. I have received comments offline on this and your point is well taken. I know I have painted with a very broad brush. So I've started some primary researchh and will post the results back to the thread. John.

To: kvkkc1 who wrote (53357)	5/23/2001 2:17:10 PM
From: Wyätt Gwyön	Respond to of 77400

all the folks I know, none of them talk about retiring early and they're all driving new slick cars. Those take lots of dinhero to hold onto.knc my pappy always says, "All hat and no cattle makes for a good ranch hand!"