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To: TobagoJack who wrote (32956)	5/3/2003 4:04:42 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<I suspect that the skills learned here can be used for a long time to improve the game, multiply the returns, and generally live off the kindness of the good earth without backbreaking labour<> Thank goodness for people like you Jay, who are willing to struggle for years to learn the skills necessary to correctly allocate capital. The world depends on capitalists to mind the world's capital. If everyone was lazy and did back-breaking labour, it would be very primitive labour. Any selfish, lazy, slob can just do some pleasant physical work, then sleep soundly each night. It takes dedication to assume the mantle of protector of the process and the associated worry, as you have done. Those who fail in their attempts to be protectors of the process are ignominiously cast aside as failed capitalists, losing all their efforts and becoming recyclable detritus of the eons-long evolutionary process. There should be awards for such valiant endeavour. I suppose most people think the huge profits awarded to the successful capitalists are sufficient reward, but some appreciation would be in order too. Surviving the horrors of combat deserves more than mere monetary reward. There are tombs for the unknown soldier, parades, and honorary days, but none for the unknown capitalist, who might merely have been unlucky, although talented, knowledgeable and courageous. Mqurice

To: TobagoJack who wrote (32956)	5/3/2003 10:34:30 PM
From: Cogito Ergo Sum	Read Replies (1) \| Respond to of 74559

allocate to this new playground, The playground is more extensive than energy and real estate too. I have a private label food manufacturer, sardine canner :o), transport company, Oil service, recycling, sugar and cold storage... real businesses.. where you can make money without needing to find the greater fool to buy your shares when you feel they are fully valued. finance.yahoo.com One other thing I've not seen mentioned here is the tax treatment. Especially in oil and gas certain expenses are passed through to the unit holder (like flow through shares). Here we call this component ROC (return of capital NOT Republic of China :o). The bottom line is you are not taxed on the ROC component when you receive it but it lowers your ACB. The point then is that you are deferring tax payment until sale of the units on part of the income and here it is at a more favourable rate of capital gains vs dividends or interest. I don't know how that applies to you though. It is not a big issue for me yet as I've held these in my tax deferred accounts only until this year. regards Kastel