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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (48144)	2/21/1999 1:24:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

bgr, a person who invested in the nikkei over the last 9 years is much worse off than someone who started investing at the top and stopped. since the person is now dead, they LOSE. this is a very real exception to the simple minded, buy, hold and get rich philosophy. it can work. it also can flop and hurt you really bad. as the market has higher valuations, the probability of getting killed goes up. a lot.

To: BGR who wrote (48144)	2/21/1999 2:03:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 132070

BGR, I read an article today in the Washington Post about the so called 'efficient' market: washingtonpost.com The writer quoted Warren Buffet in the article: "Observing correctly that the market was frequently efficient, [backers of EMT] went on to conclude incorrectly that it was always efficient. The difference between these propositions is night and day." FWIW Barb