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To: Greg Jung who wrote (6638)	9/6/1998 7:10:00 PM
From: Kory	Read Replies (1) \| Respond to of 8002

I never "disputed" this so called study (thought it was just a magazine article), even though I have not read it and I'm always suspicious when anyone starts making statements about an "average investor". I even assumed that it may be correct, but calculated even if it was, that a mythical 8 year investor still could have average gains of 10%. Since you feel this is such a scholarly study that cannot be questioned, have you read it to determine if it there is work with deep research put into it? What I responded to was the obvious sensationalism that a statement such as "43% of profits lost" is meant to convey. The statement may be accurate, because I know that there are many investors that have "lost" this and more. What I hate, and was therefore commenting on, is how statements (and statistics) such as these are used to paint a one-sided picture. It is the "spinning" of American news. It is easy to put bias in your article by only using those facts that support a point you are trying to make. Yes, it is factual that most investors have "lost" a lot of portfolio value in the past month and a half. But it is also factual that most investors who invested back in the early 90's have more than doubled there money still, even with the market decline. Could the market go up or down in the next few years. I don't know, and anyone that tells me that they do is fooling themselves. You obviously take a bearish view of the market as do several others on this board. I can listen to your opinions and your position and believe that some of the thought behind it has merit. However, your calling "ignorant" anyone that disagrees with your point of view shows who is truly blind. Kory