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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: pbull who wrote (9458)	10/19/2002 8:16:57 AM
From: Sig	Respond to of 13815

<<< I'll rue these words, with tech trading at book value, but I just can't see a catalyst that moves things from here. Eventually, there will be. That much I know. I just don't know when or what. Sometimes this just seems like a really stupid game to play. But I have yet to find an alternative.>>> Going back in history, the Dow was in existence 20 years before someone though of calling stocks an 'investment' instead of 'speculation' Now we have gone roundtrip, with the public so well informed they know it is speculation regardless of the establishment still harping most equities as investments IMO volatily will remain with instant response to news items and cheap trading fees. Fund managers get their cut of every trade, plus salary and perks, regardless of the losses to investors. New rules from the SEC will not weed out all the crooks in this game. There are people in the world with the attitude that if somebody has a dollar, it is half theirs. There are people who will do anything to make a buck( except work for it) selling worthless insurance to the elderly, or selling a piece of property for 5 times what they paid for it yesterday. With no regard for what it will cost a buyer. I'm in a rural area, maybe 15 neighbors in this are and none invested in stocks or bonds except for where a few work. ( General Dynamics or phone companies) in which case they may have 401k plans. That (401) was was another promise of the future gone bad. Invented by the establishment to get a constant flow of money from the public. Who generally considered that US stiocks always go up and that the "experts" who run funds would pick the right ones. Now the payoff, if there is one, is way out in the future. A stupid game? Very possibly. I am confused about whether it is or not. Is raising race horses a stupid game or does it contribute to society by making jobs.so retired people can bet on them? Excitement may be part of the reason, hot cars, auto racing, football, ( what useful things do we learn from football) . Vegas. Maybe we have too much spare time. Was it exciting when Columbus returned from his first voyage ? Did he say " Hey Queenie, guess whut I just done. Discovered an entire New World" Why was he not a simple fisherman who sold his catch on the beach each day like normal people? I'll quit here before getting too weird Regards Sig .