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To: Secret_Agent_Man who wrote (183419)	7/25/2002 11:37:06 AM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 436258

crusader, The average person does not have any idea what is going on. Most of them think because they had money and invested it during the 70's, 80's and 90's that they were the new rich. They believed they had a right of passage. <g> They have no idea of value, return on investment parameters or anything else. These folks have hired investment professionals to help manage their funds and these kids don't know what the heck is going on either. I tried to help these people understand how over priced this thing was and it was like talking to a brick wall. I have two friends that had owned IBM for years - I am talking about over a couple of million dollars worth of this stock between the two of them. When it was above 120 I took Fred Hickeys newsletter and talked to them trying to scare the heck out of them. Thought maybe they would bail. One of them put stops in at $90 and $85 - I told her to dump and get the heck out but she had fallen in love with the company. Anyway she is out. The other friend is still hanging in there. The first response I got from these two was they were going to have to pay taxes on all the capital gains. Sugar - tried to tell them I love to pay taxes on capital gains - as it means I am making money. BTW, one friend's cost for most of her IBM is $2. Joan