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To: sea_biscuit who wrote (24410)	10/16/2001 2:50:57 PM
From: BWAC	Read Replies (1) \| Respond to of 25814

<Anybody who makes stock picks is implicitly up against the total stock market index. For if you can't beat the index over whatever time horizon that you have in mind, why are you picking stocks anyway?! > Awww now that is just downright stupid. And shortsighted. And ignorant. You know as well as anybody that an index like Nas100 or SP500 or these various exchange traded funds contains certain elements that are absolutely junk. For simplicity sake focus on the SP500. 30% of the index is trash. 70% is worth considering as an investment. 50% is maybe worthy of an investment, 25% is worthy of an immediate investment. You advocate buying the index containing the trash, rather than buying the worthwhile individual components at relative points of perceived and/or analyzed undervaluation or point in a business cycle? Baloney. That is just some CNBS/Analyst/Fund Mismanager induced foolishness. Throw your money at some index fund, who takes it in, and buys and sells without ever considering the value or merit of the function. The absolute epitomy of buy higher sell lower, pile in/out at any price. Index investing. Blind decisions made in mass without consideration of price paid or received. Genius stuff. Just genius. All marketed by some of the biggest crooks on earth to the biggest idiots.