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To: jjkirk who wrote (8903)	8/25/2002 9:05:46 PM
From: pbull	Respond to of 13815

Gladly. Here is the top part of the story. Now, remember, Fleischer's comments were made on 7/24, right around the market's low. I really believe these guys are trying to help us _ and brokers _ time the market for maximum gain. With that kind of openness, buy options instead of the common to leverage gains. I could be wrong, but that's sure what it sounds like to me. Here it is: By Amy Goldstein Washington Post Staff Writer Thursday, July 25, 2002; Page A06 The White House yesterday stood firmly behind President Bush's plan for workers to divert some of their Social Security payroll taxes into the stock market, despite the dramatic drops Wall Street has suffered in recent months. White House press secretary Ari Fleischer took a swing at the existing Social Security program, calling it "dangerous" to "let people pay a lifetime of high taxes for a Social Security benefit that under current projections they'll never receive." Fleischer made clear that Bush continues to favor permitting Americans to take a portion of the taxes they ordinarily contribute to the Social Security trust fund and invest it on their own. "That would include markets," Fleischer said. "Nothing has changed his views about allowing younger workers to have those options." However, Fleischer recalibrated his sale pitch for private retirement accounts, deemphasizing earlier arguments that such investments would generate more retirement savings through higher rates of return. Instead, he said that the current system is "going bankrupt" and that the government should grant people more control over their money. He used the word "options" a dozen times.

To: jjkirk who wrote (8903)	8/25/2002 9:33:37 PM
From: pbull	Read Replies (1) \| Respond to of 13815

And there's this, from Barron's, Aug. 19 issue: "Based on the trading of listed options, we know a great number of options tend to be overpriced or underpriced _ yielding opportunities that traders and arbitrageurs look to exploit," says Michael Schwartz, CIBC Oppenheimer's chief options strategist. Where this all fits, in my mind, is educating the public on this issue. I live in a small metro area, and there's only one brokerage here that even has options programs. Most brokers here are buy-and-hold or buy-the-dips types. Very conservative, and no bears allowed. If we're going to manage our own money, we need to learn how to use the tools. On a side note, the K.C. Star is having one of those stupid readers' stock-picking contests. Geez, they're a good paper, too, with some pretty sharp people. But the mantra in media these days is entertainment, not hard news. I guess they really believe we're all a bunch of idiots. PB