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To: Sig who wrote (9545)	10/27/2002 1:05:50 AM
From: pbull	Respond to of 13815

Re brokers: Most small retail investors want to invest in something that only goes up. They do not want to take any risk at all that it may lose value. Given those parameters, if you, or I, were a broker, what would we recommend now, assuming that our make-believe "customer" has no interest at all in following the market for himself or herself. So, what only goes up? When I was a much younger man, I worked with an older gentleman who was nearing retirement. It was 1982, the dawn of the Great Bull Market in the United States. Sig, I know you remember 1982 well. Reagan had been in office for two years, and all of sudden, the market began to move. Not in fits and starts, but in great chunks, across the board. My colleague had sought the advice of his broker, and was excited about the prospects for his investment. The company he invested his money in, in 1982, was a one-of-kind, a dominant company that had the lion's share of its industry. Given the long recession, its prospects, no doubt, were bright. So what did his broker recommend in 1982? Wal-Mart? No. Intel? No. A bank? No. Boeing. PB