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To: Original Mad Dog who wrote (15380)	11/21/1998 6:16:00 AM
From: HG	Respond to of 27307

MadDog....I've sent a personal message - check your in-box. Bye

To: Original Mad Dog who wrote (15380)	11/21/1998 11:24:00 AM
From: Original Mad Dog	Respond to of 27307

<With that kind of acumen, maybe he doesn't need school at all. But most of us aren't willing to speculate with our lives that way; we choose to invest instead, just in case.> That statement, standing by itself as it did, could be interpreted as a slap at those who take risks and speculate with their futures or with limited resources. (My writing gets sloppy sometimes, I will admit.) Actually, those who I admire most are those who had the courage, conviction, ability, foresight, perception etc. to leave school and make it without further education, even though the "safe" route would be to get a degree and slog away at jobs working for somebody else. Even if those jobs pay enough to live comfortably, that person is not always getting the most out of his or her life. A couple of examples (and there are many): In one of the places I've lived in the past (Ann Arbor, MI), by far the most successful local businessman dropped out of school in the early 1960's. Why? Well, he had a business plan, and he didn't want to wait around to execute it when he had an opportunity (and corresponding risk) in front of him. Now, some would call that speculation of the highest order; by far the safer "investment" on the risk/reward spectrum for that person's life would have been to stay in school, get a degree, and move with the herd through a bunch of jobs at companies being run by people with a hell of a lot less vision. The second example is a college dropout, from Harvard if I recall correctly, who now is the most successful monopolist the world has ever seen. Would he have benefited more from the "investment" of further college or from the "speculation" of the ventures he embarked upon? Those of us to prefer to invest rather than speculate, in life as well as in stocks, are making choices which restrain us from reaching our full potential. Call it a lack of faith in ourselves that if we take the risk we will succeed. The last time the Dow ran up as quickly as it has these past 6 weeks was in 1982, when I was in college. If I had had the courage, conviction, ability, foresight, perception etc. to speculate on a well-balanced portfolio of great companies, even 5 shares at a time, I may very well have created some great opportunities for myself that I ended up not having. You can all figure out what this has to do with YHOO, but I didn't want to leave the impression for the readers of this thread that I was criticizing college students who build portfolios of great companies a few shares at a time. To the contrary, I would hire somebody like that in a second. MAD DOG P.S. -- For you non-Midwesterners, the first example was Domino's pizza baron Tom Monaghan.