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To: NoMoney who wrote (6841)	1/21/1998 5:16:00 PM
From: taxikid	Read Replies (1) \| Respond to of 11888

<<ps i am holding and standing behind my projection of "reahing back into the archives for a price $30+in March>>> MARCH OF WHAT YEAR? taxi

To: NoMoney who wrote (6841)	1/21/1998 6:48:00 PM
From: Sycamore	Read Replies (1) \| Respond to of 11888

How $10,000 Ballooned into $175 Million! The winner's game is buyng and holding good businesses with strong enduring qualities. That's Warren Buffett's approach and it's done prettty well by him. He's #2 on the Forbes list, and he got there by buying stocks in solid companies and holding them--not by wasting time trading in and out to make a point here and there. Anyone with the good judgment to invest $10,000 in Buffett's partnership at its inception in 1956 (and to transfer into Buffett's Berkshire Hathaway at the partnership termination) would today be sitting on an astonishing $175 million--after all fees and expenses. What's more, the lucky investor would have incurred only about $54,000 in income taxes during the entire 42-year period! No PR man alive could dream up a better testimonial for buying and holding shares of quality American businesses than that. Why the Best Time to Start Getting Rich is Immediately My basic argument is really very simple: over the years, the stock market goes up about two out of three days. With such friendly odds, you risk more by being out of the market than being in it. In fact, every day you wait could cost you money. Please don't wait for the "right time" to get in on a market "dip." It isn't particularly important what level the market is at when you start investing. Even an Investor with the most pathetic luck imaginable does just fine if he keeps at it. Here's what I mean. Say you invested in the S&P 500 at the start of every year since 1965. As of mid-1995, you'd have racked up an annual return of 11%. But what if you were illfated enough to invest at the peak of the marke each year? It would hardly have mattered. You annualized return would have "plunged" all the way down to 10.6%. Conversely, if you had had the good fortune to invest at the low point each year, your return would have risen only 0.7%, to 11.7%. In other words, in the long run it doesn't matter much whether your timing is great or lousy. What matters is that you stay invested. It's time--not timing--that is going to make you rich. Worrywarts so scared of a market drop that they do nothing are making a big mistake. Go for it. And go for it now. Don't waste time worrying about how the "market" is behaving. Over the long haul, the market has made winners of everyone who has stuck it out long enough. As my good friend Peter Lynch--one of the most successful stock pickers of all time--has so astutely pointed out, far more money has been lost by investors trying to protect themselves from market downturns than has been lost in downturns themselves. Yet many investors still put off buying good stocks, sitting on their cash and hoping to buy stocks cheaper after a market correction. That's a loser game. Take a look at the Forbes list of the world's 400 richest people. It's peppered with long term investors--not market timers. Note: The source is Louis Rukeyser's Wall Street Newsletter Feb98