To: Gottfried who wrote (14234 ) 4/12/2005 7:54:46 PM From: Donald Wennerstrom Read Replies (1) | Respond to of 25522 Gottfried, The word secular is fairly nebulous in my mind, but here is what I found at:investorwords.com now if you click on "se" you getinvestorwords.com Find "secular" and click on that word you get:investorwords.com Here we get the definition "Long term, not temporary or cyclical." You can now click on "long term" and get:investorwords.com which gives us: "A long period of time, as for a bond (e.g. 10 or more years) or for a buy and hold investment strategy." and then you can click on "buy and hold which gives you thisinvestorwords.com which tells us "An investment strategy in which stocks are bought and then held for a long period, regardless of the market's fluctuations. The buy and hold approach to investing in stocks rests upon the assumption that in the very long term (over the course of, say, 10 or 20 years) stock prices will go up, but the average investor doesn't know what will happen tomorrow. Historical data from the past 50 years supports this claim. The logic behind the idea is that in a capitalist society the economy will keep expanding, so profits will keep growing and both stock prices and stock dividends will increase as a result. There may be short term fluctuations, due to business cycles or rising inflation, but in the long term these will be smoothed out and the market as a whole will rise. Two additional benefits to the buy and hold strategy are that trading commissions can be reduced and taxes can be reduced or deferred by buying and selling less often and holding longer." Going back, we can also click on "investment strategy" which gives us this: "An investor's plan of distributing assets among various investments, taking into consideration such factors as individual goals, risk tolerance and horizon." Also as you see, when you start "drilling down" through these definitions there are many more "clicks" you can make as well to get further definitions.:) That's all for now folks.:) Don