To: paulmcg0 who wrote (14115 ) 2/17/1998 11:05:00 PM From: David Smith Read Replies (2) | Respond to
I thought your remarks about the current national mania for the stock market were right on the money. Recently, while on vacation in New Mexico, I pulled up to a tiny roadside outpost about 100 miles from the nearest town...literally in the middle of nowhere. The place was dilapidated, and I was sure I wasn't going to be able to find the cup of coffee I was looking for. I walked into the place and found an 80 year old Indian woman, whose main business seemed to be peddling tribal artifacts to any tourists who stopped by. There was almost nothing in the place. There was, however, a working color television, and that elderly Indian woman was intently watching a live report from the floor of the NYSE on CNBC. I asked her if she followed the market, and she smiled and opened a drawer packed with brokerage and mutual fund statements. She explained that she had 9 mutual funds, and had recently bought a satellite dish (which was indeed outside) so she could follow the action every day, minute by minute. She said that she used to drive an hour every few days to go to an Indian casino, but gave it up when she discovered the stock market. For some reason, that last revelation was less than comforting to me.
