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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Mark Marcellus who wrote (8318)	9/17/2001 2:49:45 AM
From: Bill Wexler	Read Replies (4) \| Respond to of 10293

A few comments.... Now that all the thrashing on this message board seems to be dying down after the events of the past week, I thought I'd kick off the coming trading week with a few thoughts: 1) The attacks were a tragedy, and they should be dealt with in the appropriate context. Investing is about making hard-hearted economic decisions. Cigarettes kill 100x more people every year than this terrorist attack...yet money floods to Phillip Morris because of the company's excellent ability to deliver above-average returns. The markets follow their own perverse logic, and though it may feel cathartic to throw money at stocks as a patriotic gesture, it is a reckless thing to do. Corporations will live and die by their ability to deliver earnings...period. You are not making any sort of statement by throwing good money at a bad stock. By the way, if you really want to be "patriotic" and "help" corporations, why not go the more direct route and buy bonds instead? 2) It's generally stupid for individual investors to try and game big, catastrophic events. Probably the smartest thing you can do on Monday is sleep through it. 3) While true that "brad greene" is a fool, he is correct that security stocks may get some traction off this tragedy. The reason I am much, much wealthier than Mr. greene is because I don't permit my ego to overwhelm my judgement. I don't believe the fundamentals of the IDX stock fraud can keep the share price up forever...but I also understand the ability of emotion/panic-driven "investment themes" to keep even the most noxious garbage afloat for years on end (e.g. the Y2K hoax). I'm going to think about it over the next few days and weeks...and if I cover my position I will post it here. 4) I was hoping that the promoters of fraud stocks would not lower themselves to using this tragedy as a means of swindling yet more investors. Sadly, this has not been the case. Read the Yahoo message boards for the REFR stock fraud to see perhaps the most vile behavior ever by cockroach stock touts.